Goodyear Tire & Rubber (GT) Rating Increased to Sell at BidaskClub

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BidaskClub upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a strong sell rating to a sell rating in a research report released on Tuesday.

Several other equities research analysts have also recently weighed in on GT. Argus lowered their target price on Goodyear Tire & Rubber to $30.00 and set an average rating for the company in a report on Monday, August 6th. They noted that the move was a valuation call. Jefferies Financial Group set a $30.00 target price on Goodyear Tire & Rubber and gave the stock a buy rating in a report on Tuesday, July 31st. Morgan Stanley cut Goodyear Tire & Rubber from an overweight rating to an equal weight rating and lowered their target price for the stock from $33.00 to $23.00 in a report on Monday, August 13th. Zacks Investment Research upgraded Goodyear Tire & Rubber from a strong sell rating to a hold rating in a report on Wednesday, July 11th. Finally, Longbow Research reiterated a hold rating on shares of Goodyear Tire & Rubber in a report on Friday, July 27th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $28.38.

Shares of Goodyear Tire & Rubber stock opened at $21.58 on Tuesday. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 6.92 and a beta of 1.69. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.34. Goodyear Tire & Rubber has a 52 week low of $19.25 and a 52 week high of $36.07.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Friday, October 26th. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.08). The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.95 billion. Goodyear Tire & Rubber had a net margin of 3.11% and a return on equity of 13.84%. The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS. On average, equities analysts expect that Goodyear Tire & Rubber will post 2.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 1st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Wednesday, October 31st. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is currently 17.95%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. lifted its stake in shares of Goodyear Tire & Rubber by 80.7% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 5,279 shares of the company’s stock worth $123,000 after purchasing an additional 2,358 shares during the last quarter. Exane Asset Management purchased a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter worth $193,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Goodyear Tire & Rubber during the 3rd quarter worth $205,000. Baird Financial Group Inc. purchased a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter worth $209,000. Finally, Vident Investment Advisory LLC lifted its stake in shares of Goodyear Tire & Rubber by 33.7% during the 2nd quarter. Vident Investment Advisory LLC now owns 10,101 shares of the company’s stock worth $235,000 after purchasing an additional 2,547 shares during the last quarter. Hedge funds and other institutional investors own 86.88% of the company’s stock.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It 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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