Shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) have been given a consensus recommendation of “Buy” by the nine brokerages that are covering the company. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $35.26.

GT has been the topic of a number of research analyst reports. Vetr raised The Goodyear Tire & Rubber Co. from a “buy” rating to a “strong-buy” rating and set a $30.38 target price on the stock in a research note on Monday, June 27th. Credit Agricole SA raised their price objective on The Goodyear Tire & Rubber Co. from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, September 16th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $35.00 price objective on shares of The Goodyear Tire & Rubber Co. in a research note on Saturday. Deutsche Bank AG raised The Goodyear Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Tuesday, September 6th. Finally, Zacks Investment Research raised The Goodyear Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, July 13th.

Shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) traded down 0.358% on Wednesday, reaching $32.035. The company’s stock had a trading volume of 1,208,788 shares. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 31.500 and a beta of 1.73. The stock has a 50 day moving average of $31.26 and a 200-day moving average of $29.18. The Goodyear Tire & Rubber Co. has a 12 month low of $24.31 and a 12 month high of $35.30.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.13. The Goodyear Tire & Rubber Co. had a return on equity of 24.06% and a net margin of 1.75%. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the business posted $0.84 earnings per share. The firm’s revenue was down 7.0% compared to the same quarter last year. On average, analysts anticipate that The Goodyear Tire & Rubber Co. will post $4.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.24%. This is a positive change from The Goodyear Tire & Rubber Co.’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, October 28th. The Goodyear Tire & Rubber Co.’s dividend payout ratio (DPR) is presently 28.00%.

Several institutional investors have recently added to or reduced their stakes in GT. Adage Capital Partners GP L.L.C. increased its stake in shares of The Goodyear Tire & Rubber Co. by 28.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 8,485,852 shares of the company’s stock valued at $217,747,000 after buying an additional 1,892,700 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of The Goodyear Tire & Rubber Co. by 720.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 2,050,000 shares of the company’s stock valued at $52,603,000 after buying an additional 1,800,000 shares during the period. BlackRock Investment Management LLC increased its stake in shares of The Goodyear Tire & Rubber Co. by 123.4% in the second quarter. BlackRock Investment Management LLC now owns 1,704,064 shares of the company’s stock valued at $43,726,000 after buying an additional 941,210 shares during the period. Panagora Asset Management Inc. increased its stake in shares of The Goodyear Tire & Rubber Co. by 41.2% in the first quarter. Panagora Asset Management Inc. now owns 2,961,931 shares of the company’s stock valued at $97,684,000 after buying an additional 863,783 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in shares of The Goodyear Tire & Rubber Co. by 48.3% in the second quarter. Wedge Capital Management L L P NC now owns 2,627,326 shares of the company’s stock valued at $67,417,000 after buying an additional 856,168 shares during the period. Hedge funds and other institutional investors own 92.93% of the company’s stock.

The Goodyear Tire & Rubber Co. Company Profile

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company’s business is the development, manufacture, distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia Pacific.

5 Day Chart for NASDAQ:GT

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