Shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the firm. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $35.05.

GT has been the topic of a number of research analyst reports. Credit Agricole SA raised their price objective on shares of 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. restated a “buy” rating and set a $35.00 target price on shares of The Goodyear Tire & Rubber Co. in a report on Saturday, October 8th. Deutsche Bank AG upgraded shares of The Goodyear Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Tuesday, September 6th. Finally, Citigroup Inc. raised their target price on shares of The Goodyear Tire & Rubber Co. from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 28th.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) traded down 1.275% during trading on Wednesday, hitting $30.595. The stock had a trading volume of 1,851,723 shares. The Goodyear Tire & Rubber Co. has a 1-year low of $24.31 and a 1-year high of $35.30. The firm’s 50-day moving average price is $30.76 and its 200-day moving average price is $28.88. The stock has a market cap of $7.99 billion, a PE ratio of 25.560 and a beta of 1.33.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) last announced its quarterly earnings results on Friday, October 28th. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.16 by $0.01. The Goodyear Tire & Rubber Co. had a net margin of 2.09% and a return on equity of 24.47%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the business earned $0.99 earnings per share. The Goodyear Tire & Rubber Co.’s revenue was down 8.1% compared to the same quarter last year. On average, equities research analysts predict that The Goodyear Tire & Rubber Co. will post $3.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 1st will be paid a $0.10 dividend. 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. This represents a $0.40 dividend on an annualized basis and a yield of 1.29%. The Goodyear Tire & Rubber Co.’s dividend payout ratio (DPR) is currently 33.33%.

Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of The Goodyear Tire & Rubber Co. by 210.6% in the first quarter. Legal & General Group Plc now owns 1,247,893 shares of the company’s stock worth $41,151,000 after buying an additional 846,079 shares during the period. ICM Asset Management Inc. WA raised its stake in shares of The Goodyear Tire & Rubber Co. by 138.4% in the second quarter. ICM Asset Management Inc. WA now owns 90,751 shares of the company’s stock worth $2,329,000 after buying an additional 52,685 shares during the period. Nuveen Asset Management LLC raised its stake in shares of The Goodyear Tire & Rubber Co. by 393.3% in the first quarter. Nuveen Asset Management LLC now owns 209,572 shares of the company’s stock worth $6,912,000 after buying an additional 167,086 shares during the period. Renaissance Technologies LLC raised its stake in shares of The Goodyear Tire & Rubber Co. by 133.4% in the first quarter. Renaissance Technologies LLC now owns 512,700 shares of the company’s stock worth $16,909,000 after buying an additional 293,000 shares during the period. Finally, Exxonmobil Investment Management Inc. TX raised its stake in shares of The Goodyear Tire & Rubber Co. by 5.9% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 68,840 shares of the company’s stock worth $1,766,000 after buying an additional 3,822 shares during the period. 92.81% of the stock is owned by hedge funds and other institutional investors.

The Goodyear Tire & Rubber Co. Company Profile

The Goodyear Tire & Rubber Company is engaged in developing, manufacturing, marketing and distributing tires for various applications. It also manufactures and markets rubber-related chemicals for various applications. The Company’s Americas business comprises businesses of North America and Latin America.

5 Day Chart for NASDAQ:GT

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