Goodyear Tire & Rubber Co (NASDAQ:GT)’s share price reached a new 52-week low on Thursday . The stock traded as low as $17.54 and last traded at $17.59, with a volume of 61662 shares changing hands. The stock had previously closed at $17.78.
Several equities analysts have weighed in on the company. BidaskClub raised Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. Deutsche Bank began coverage on Goodyear Tire & Rubber in a report on Thursday, December 13th. They set a “hold” rating for the company. Zacks Investment Research lowered Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Monday, November 19th. ValuEngine upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Thursday, November 15th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $25.00 price target on shares of Goodyear Tire & Rubber in a report on Tuesday, February 5th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $23.56.
The firm has a market cap of $4.14 billion, a PE ratio of 7.62, a PEG ratio of -1.64 and a beta of 1.52. The company has a quick ratio of 0.64, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.
Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Friday, February 8th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.09). The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $4.04 billion. Goodyear Tire & Rubber had a net margin of 4.48% and a return on equity of 11.17%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Equities research analysts expect that Goodyear Tire & Rubber Co will post 2.21 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 1st were issued a $0.16 dividend. This is a positive change from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 3.62%. The ex-dividend date was Thursday, January 31st. Goodyear Tire & Rubber’s payout ratio is 27.59%.
In related news, Director Werner Geissler bought 35,000 shares of Goodyear Tire & Rubber stock in a transaction that occurred on Wednesday, February 13th. The stock was purchased at an average cost of $18.65 per share, for a total transaction of $652,750.00. Following the acquisition, the director now owns 50,000 shares in the company, valued at $932,500. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of GT. Oregon Public Employees Retirement Fund lifted its holdings in shares of Goodyear Tire & Rubber by 1,711.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,329,973 shares of the company’s stock worth $163,000 after buying an additional 3,146,166 shares during the last quarter. Norges Bank acquired a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth approximately $44,517,000. Millennium Management LLC lifted its holdings in shares of Goodyear Tire & Rubber by 2,196.7% during the fourth quarter. Millennium Management LLC now owns 2,190,955 shares of the company’s stock worth $44,717,000 after buying an additional 2,095,559 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Goodyear Tire & Rubber by 65.2% during the third quarter. Bank of New York Mellon Corp now owns 3,939,205 shares of the company’s stock worth $92,139,000 after buying an additional 1,554,946 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Goodyear Tire & Rubber by 118.7% during the fourth quarter. Bank of Montreal Can now owns 2,346,793 shares of the company’s stock worth $47,898,000 after buying an additional 1,273,858 shares during the last quarter. Hedge funds and other institutional investors own 87.64% of the company’s stock.
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About Goodyear Tire & Rubber (NASDAQ:GT)
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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