Goodyear Tire & Rubber Co (NASDAQ:GT) Receives $19.56 Average PT from Analysts

Shares of Goodyear Tire & Rubber Co (NASDAQ:GT) have received a consensus recommendation of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $19.67.

A number of research analysts recently weighed in on the company. Longbow Research reaffirmed a “sell” rating and set a $14.00 price objective on shares of Goodyear Tire & Rubber in a research report on Wednesday, April 24th. Zacks Investment Research raised Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 16th. ValuEngine raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Finally, BidaskClub raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Friday, April 5th.

Shares of NASDAQ:GT traded down $0.06 during trading on Wednesday, hitting $14.86. The stock had a trading volume of 2,046,500 shares, compared to its average volume of 4,717,230. Goodyear Tire & Rubber has a 12 month low of $13.23 and a 12 month high of $25.46. The firm has a market capitalization of $3.46 billion, a P/E ratio of 6.41 and a beta of 1.71. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.28.



Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, April 26th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.14. Goodyear Tire & Rubber had a return on equity of 9.59% and a net margin of 3.65%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The business’s revenue was down 6.1% compared to the same quarter last year. On average, equities analysts forecast that Goodyear Tire & Rubber will post 1.82 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Tuesday, April 30th. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is presently 27.59%.

Several institutional investors have recently bought and sold shares of GT. BlackRock Inc. increased its holdings in shares of Goodyear Tire & Rubber by 46.9% in the 1st quarter. BlackRock Inc. now owns 24,518,651 shares of the company’s stock worth $445,017,000 after purchasing an additional 7,827,837 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Goodyear Tire & Rubber by 1,711.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,329,973 shares of the company’s stock worth $163,000 after purchasing an additional 3,146,166 shares in the last quarter. Norges Bank bought a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $44,517,000. Millennium Management LLC increased its holdings in shares of Goodyear Tire & Rubber by 2,196.7% in the 4th quarter. Millennium Management LLC now owns 2,190,955 shares of the company’s stock worth $44,717,000 after purchasing an additional 2,095,559 shares in the last quarter. Finally, AJO LP increased its holdings in shares of Goodyear Tire & Rubber by 295.0% in the 1st quarter. AJO LP now owns 2,187,264 shares of the company’s stock worth $39,699,000 after purchasing an additional 1,633,511 shares in the last quarter. 85.29% of the stock is owned by institutional investors and hedge funds.

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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