The Goodyear Tire & Rubber Company (GT) Receives Average Rating of “Buy” from Brokerages

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have been assigned an average recommendation of “Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $38.11.

A number of equities analysts have recently weighed in on the company. Jefferies Group LLC reissued a “buy” rating and issued a $36.00 price target on shares of The Goodyear Tire & Rubber in a report on Thursday. BidaskClub cut The Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) set a $29.00 price target on The Goodyear Tire & Rubber and gave the stock a “hold” rating in a report on Tuesday, August 1st. Morgan Stanley reissued an “overweight” rating and issued a $46.00 price target (down from $52.00) on shares of The Goodyear Tire & Rubber in a report on Wednesday, August 2nd. Finally, Zacks Investment Research raised The Goodyear Tire & Rubber from a “sell” rating to a “hold” rating and set a $37.00 price target for the company in a report on Monday.

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In related news, insider Jean Claude Kihn sold 7,500 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $33.26, for a total value of $249,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 15,501 shares of company stock valued at $507,866 over the last quarter. Insiders own 1.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Financial Architects Inc increased its stake in The Goodyear Tire & Rubber by 2.2% during the second quarter. Financial Architects Inc now owns 3,546 shares of the company’s stock worth $124,000 after acquiring an additional 75 shares during the last quarter. First Quadrant L P CA acquired a new stake in The Goodyear Tire & Rubber during the second quarter worth about $130,000. Washington Trust Bank increased its stake in The Goodyear Tire & Rubber by 46.3% during the second quarter. Washington Trust Bank now owns 3,885 shares of the company’s stock worth $136,000 after acquiring an additional 1,230 shares during the last quarter. Exane Derivatives increased its stake in The Goodyear Tire & Rubber by 204,800.0% during the second quarter. Exane Derivatives now owns 4,098 shares of the company’s stock worth $143,000 after acquiring an additional 4,096 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in The Goodyear Tire & Rubber during the second quarter worth about $160,000. Institutional investors own 90.33% of the company’s stock.

Shares of The Goodyear Tire & Rubber (GT) traded down 0.894% on Thursday, hitting $32.695. The stock had a trading volume of 1,208,379 shares. The Goodyear Tire & Rubber has a one year low of $26.82 and a one year high of $37.20. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 7.123 and a beta of 1.56. The firm’s 50-day moving average is $31.88 and its 200-day moving average is $33.54.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, July 28th. The company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.05). The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. The Goodyear Tire & Rubber had a return on equity of 18.94% and a net margin of 7.95%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 earnings per share. On average, analysts expect that The Goodyear Tire & Rubber will post $3.05 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 1st will be paid a $0.14 dividend. This is a positive change from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. This represents a $0.56 annualized dividend and a yield of 1.70%. The Goodyear Tire & Rubber’s dividend payout ratio is presently 8.77%.

About The Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

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

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