Goodyear Tire & Rubber Co (GT) Receives Consensus Rating of “Hold” from Brokerages

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Goodyear Tire & Rubber Co (NASDAQ:GT) has been given a consensus recommendation of “Hold” by the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $23.14.

A number of research analysts recently weighed in on the stock. Jefferies Financial Group set a $26.00 target price on shares of Goodyear Tire & Rubber and gave the company a “buy” rating in a report on Tuesday, December 4th. Zacks Investment Research raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Tuesday, January 15th. Deutsche Bank assumed coverage on shares of Goodyear Tire & Rubber in a report on Thursday, December 13th. They issued a “hold” rating for the company. Morgan Stanley set a $19.00 target price on shares of Goodyear Tire & Rubber and gave the company a “hold” rating in a report on Tuesday, January 29th. Finally, ValuEngine raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Monday, January 21st.

Goodyear Tire & Rubber stock opened at $18.23 on Friday. The company has a market cap of $4.13 billion, a PE ratio of 7.86, a P/E/G ratio of -1.64 and a beta of 1.52. The company has a current ratio of 1.24, a quick ratio of 0.64 and a debt-to-equity ratio of 1.01. Goodyear Tire & Rubber has a 1 year low of $17.53 and a 1 year high of $28.34.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Friday, February 8th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.09). The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $4.04 billion. Goodyear Tire & Rubber had a net margin of 4.48% and a return on equity of 11.17%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 EPS. As a group, analysts anticipate that Goodyear Tire & Rubber will post 2.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 1st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.51%. This is a positive change from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, January 31st. Goodyear Tire & Rubber’s payout ratio is presently 27.59%.

In other news, Director Werner Geissler acquired 35,000 shares of the company’s stock in a transaction on Wednesday, February 13th. The stock was bought at an average cost of $18.65 per share, with a total value of $652,750.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at $932,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Mercantile Trust Co. purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at $35,000. Captrust Financial Advisors purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at $43,000. CSat Investment Advisory L.P. boosted its stake in shares of Goodyear Tire & Rubber by 58.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 2,467 shares of the company’s stock valued at $50,000 after purchasing an additional 914 shares during the period. Fort L.P. purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at $85,000. Finally, Dupont Capital Management Corp boosted its stake in shares of Goodyear Tire & Rubber by 44.8% during the fourth quarter. Dupont Capital Management Corp now owns 4,313 shares of the company’s stock valued at $88,000 after purchasing an additional 1,335 shares during the period. 87.29% of the stock is owned by institutional investors.

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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