Goodyear Tire & Rubber (GT) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Goodyear Tire & Rubber (NASDAQ:GT) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

A number of other brokerages have also recently issued reports on GT. Zacks Investment Research raised shares of Goodyear Tire & Rubber from a hold rating to a buy rating and set a $24.00 price objective on the stock in a research note on Tuesday, January 15th. ValuEngine cut shares of Goodyear Tire & Rubber from a sell rating to a strong sell rating in a research note on Tuesday, January 15th. Longbow Research reissued a hold rating on shares of Goodyear Tire & Rubber in a research note on Monday, January 21st. Morgan Stanley set a $19.00 price objective on shares of Goodyear Tire & Rubber and gave the company a hold rating in a research note on Tuesday, January 29th. Finally, Jefferies Financial Group reissued a buy rating and issued a $25.00 price objective on shares of Goodyear Tire & Rubber in a research note on Tuesday, February 5th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Goodyear Tire & Rubber presently has a consensus rating of Hold and an average price target of $21.50.

Shares of GT opened at $15.73 on Tuesday. Goodyear Tire & Rubber has a 12 month low of $15.71 and a 12 month high of $26.43. The company has a market cap of $3.65 billion, a PE ratio of 6.78, a price-to-earnings-growth ratio of -1.66 and a beta of 1.51. The company has a current ratio of 1.28, a quick ratio of 0.70 and a debt-to-equity ratio of 1.10.



Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, April 26th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.14. Goodyear Tire & Rubber had a net margin of 3.65% and a return on equity of 9.59%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same period last year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, equities analysts predict that Goodyear Tire & Rubber will post 2.06 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 1st will be given a $0.16 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.07%. Goodyear Tire & Rubber’s dividend payout ratio is currently 27.59%.

A number of institutional investors have recently modified their holdings of GT. BlackRock Inc. boosted its position in Goodyear Tire & Rubber by 46.9% in the first quarter. BlackRock Inc. now owns 24,518,651 shares of the company’s stock valued at $445,017,000 after buying an additional 7,827,837 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Goodyear Tire & Rubber by 1,711.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,329,973 shares of the company’s stock valued at $163,000 after buying an additional 3,146,166 shares in the last quarter. Norges Bank acquired a new stake in Goodyear Tire & Rubber in the fourth quarter valued at approximately $44,517,000. Millennium Management LLC boosted its position in Goodyear Tire & Rubber by 2,196.7% in the fourth quarter. Millennium Management LLC now owns 2,190,955 shares of the company’s stock valued at $44,717,000 after buying an additional 2,095,559 shares in the last quarter. Finally, AJO LP boosted its position in Goodyear Tire & Rubber by 295.0% in the first quarter. AJO LP now owns 2,187,264 shares of the company’s stock valued at $39,699,000 after buying an additional 1,633,511 shares in the last quarter. Hedge funds and other institutional investors own 85.51% of the company’s stock.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

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