Goodyear Tire & Rubber Co (NASDAQ:GT) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $15.29 and last traded at $15.39, with a volume of 4771400 shares. The stock had previously closed at $15.31.
Several brokerages have recently issued reports on GT. Morgan Stanley set a $15.00 price target on shares of Goodyear Tire & Rubber and gave the stock a “hold” rating in a report on Thursday, May 16th. Zacks Investment Research downgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 5th. BidaskClub downgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 14th. KeyCorp began coverage on shares of Goodyear Tire & Rubber in a report on Wednesday. They set a “sector weight” rating and a $14.93 price target for the company. Finally, ValuEngine downgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $20.77.
The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 6.28, a price-to-earnings-growth ratio of -1.56 and a beta of 1.51. The company has a quick ratio of 0.70, a current ratio of 1.28 and a debt-to-equity ratio of 1.10.
Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.14. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.74 billion. Goodyear Tire & Rubber had a return on equity of 9.59% and a net margin of 3.65%. Goodyear Tire & Rubber’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. Equities research analysts forecast that Goodyear Tire & Rubber Co will post 2.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.39%. Goodyear Tire & Rubber’s payout ratio is 27.59%.
A number of hedge funds and other institutional investors have recently bought and sold shares of GT. BlackRock Inc. increased its holdings in Goodyear Tire & Rubber by 46.9% in the first quarter. BlackRock Inc. now owns 24,518,651 shares of the company’s stock valued at $445,017,000 after purchasing an additional 7,827,837 shares during the period. Oregon Public Employees Retirement Fund boosted its position in 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 valued at $163,000 after acquiring an additional 3,146,166 shares during the last quarter. Norges Bank bought a new stake in Goodyear Tire & Rubber during the fourth quarter valued at $44,517,000. Millennium Management LLC boosted its position in 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 valued at $44,717,000 after acquiring an additional 2,095,559 shares during the last quarter. Finally, AJO LP boosted its position in Goodyear Tire & Rubber by 295.0% during the first quarter. AJO LP now owns 2,187,264 shares of the company’s stock valued at $39,699,000 after acquiring an additional 1,633,511 shares during the last quarter. Institutional investors and hedge funds own 88.24% of the company’s stock.
Goodyear Tire & Rubber Company Profile (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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