Goodyear Tire & Rubber (NASDAQ:GT) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a strong sell rating to a sell rating in a research note released on Thursday, BidAskClub reports.

Other analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Goodyear Tire & Rubber from a sell rating to a hold rating in a research report on Tuesday, September 10th. Longbow Research upgraded shares of Goodyear Tire & Rubber from an underperform rating to a neutral rating and set a $14.74 price objective for the company in a research report on Thursday, June 6th. Exane BNP Paribas began coverage on shares of Goodyear Tire & Rubber in a research report on Friday, August 16th. They set an outperform rating and a $15.00 price objective for the company. BNP Paribas began coverage on shares of Goodyear Tire & Rubber in a research report on Friday, August 16th. They set an outperform rating and a $10.00 price objective for the company. Finally, Citigroup reduced their price objective on shares of Goodyear Tire & Rubber from $16.00 to $14.00 and set a neutral rating for the company in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $17.52.

Shares of Goodyear Tire & Rubber stock opened at $14.00 on Thursday. Goodyear Tire & Rubber has a 52-week low of $10.74 and a 52-week high of $24.85. The company has a 50 day moving average of $12.28 and a 200 day moving average of $15.76. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $3.27 billion, a P/E ratio of 6.03 and a beta of 1.76.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). Goodyear Tire & Rubber had a return on equity of 7.66% and a net margin of 3.02%. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Goodyear Tire & Rubber will post 1.53 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st were issued a $0.16 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.57%. Goodyear Tire & Rubber’s payout ratio is 27.59%.

Several institutional investors have recently made changes to their positions in the company. HM Payson & Co. acquired a new position in Goodyear Tire & Rubber in the 2nd quarter valued at $58,000. Advisory Services Network LLC increased its stake in shares of Goodyear Tire & Rubber by 46.3% during the 1st quarter. Advisory Services Network LLC now owns 5,200 shares of the company’s stock valued at $94,000 after acquiring an additional 1,645 shares during the last quarter. Employers Holdings Inc. acquired a new position in shares of Goodyear Tire & Rubber during the 2nd quarter valued at about $106,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Goodyear Tire & Rubber by 37.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,097 shares of the company’s stock valued at $138,000 after acquiring an additional 2,492 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Goodyear Tire & Rubber by 17.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,153 shares of the company’s stock valued at $155,000 after acquiring an additional 1,507 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

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. 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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