Goodyear Tire & Rubber Co (NASDAQ:GT) Given Consensus Rating of “Hold” by Brokerages

Shares of Goodyear Tire & Rubber Co (NASDAQ:GT) have been given a consensus recommendation of “Hold” by the thirteen ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $15.38.

Several research firms recently commented on GT. BNP Paribas began coverage on Goodyear Tire & Rubber in a research note on Friday, August 16th. They set an “outperform” rating and a $10.00 target price for the company. BidaskClub raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 12th. Exane BNP Paribas initiated coverage on Goodyear Tire & Rubber in a research report on Friday, August 16th. They set an “outperform” rating and a $15.00 price objective for the company. Morgan Stanley set a $14.00 price objective on Goodyear Tire & Rubber and gave the stock a “hold” rating in a research report on Wednesday, June 26th. Finally, ValuEngine raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th.

Shares of GT stock traded up $0.13 on Friday, hitting $13.66. The stock had a trading volume of 195,065 shares, compared to its average volume of 3,591,434. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.33 and a quick ratio of 0.73. The firm has a market capitalization of $3.15 billion, a P/E ratio of 5.92 and a beta of 1.76. Goodyear Tire & Rubber has a 1 year low of $10.74 and a 1 year high of $24.85. The company’s 50 day moving average price is $12.22 and its 200-day moving average price is $15.58.



Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Friday, July 26th. The company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.06). Goodyear Tire & Rubber had a return on equity of 7.66% and a net margin of 3.02%. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts forecast that Goodyear Tire & Rubber will post 1.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Wednesday, July 31st. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 27.59%.

Several hedge funds have recently modified their holdings of GT. Fruth Investment Management grew its holdings in shares of Goodyear Tire & Rubber by 1.5% in the 2nd quarter. Fruth Investment Management now owns 68,090 shares of the company’s stock worth $1,041,000 after acquiring an additional 1,000 shares during the period. Cim Investment Mangement Inc. grew its holdings in shares of Goodyear Tire & Rubber by 4.5% in the 2nd quarter. Cim Investment Mangement Inc. now owns 25,499 shares of the company’s stock worth $390,000 after acquiring an additional 1,087 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Goodyear Tire & Rubber by 17.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,153 shares of the company’s stock worth $155,000 after acquiring an additional 1,507 shares during the period. Advisory Services Network LLC grew its holdings in shares of Goodyear Tire & Rubber by 46.3% in the 1st quarter. Advisory Services Network LLC now owns 5,200 shares of the company’s stock worth $94,000 after acquiring an additional 1,645 shares during the period. Finally, First Republic Investment Management Inc. grew its holdings in shares of Goodyear Tire & Rubber by 1.1% in the 2nd quarter. First Republic Investment Management Inc. now owns 158,187 shares of the company’s stock worth $2,420,000 after acquiring an additional 1,747 shares during the period. 81.66% 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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