Jefferies Group began coverage on shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) in a research note issued on Tuesday. The brokerage set a “buy” rating on the stock.

GT has been the topic of a number of other reports. Morgan Stanley set a $24.00 price objective on shares of The Goodyear Tire & Rubber Co. and gave the company a “sell” rating in a report on Thursday, November 24th. lifted 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 report on Friday, September 16th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $35.00 price objective 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 price objective on the stock in a report on Tuesday, September 6th. Finally, Berenberg Bank began coverage on shares of The Goodyear Tire & Rubber Co. in a report on Tuesday, November 22nd. They set a “buy” rating and a $36.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $34.04.

Analyst Recommendations for The Goodyear Tire & Rubber Co. (NASDAQ:GT)

Shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) opened at 30.75 on Tuesday. The company has a market capitalization of $8.03 billion, a P/E ratio of 25.69 and a beta of 1.33. The company’s 50 day moving average is $30.29 and its 200 day moving average is $29.02. 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 announced its quarterly earnings results on Friday, October 28th. The company reported $1.17 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The business’s revenue was down 8.1% on a year-over-year basis. Analysts expect that The Goodyear Tire & Rubber Co. will post $3.95 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 1st will be issued a $0.10 dividend. This is an increase from The Goodyear Tire & Rubber Co.’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, October 28th. The Goodyear Tire & Rubber Co.’s payout ratio is currently 33.33%.

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Institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. boosted its stake in shares of The Goodyear Tire & Rubber Co. by 43.3% in the second quarter. Whittier Trust Co. now owns 4,935 shares of the company’s stock worth $127,000 after buying an additional 1,491 shares during the last quarter. Pacer Advisors Inc. boosted its stake in The Goodyear Tire & Rubber Co. by 9.9% in the second quarter. Pacer Advisors Inc. now owns 5,323 shares of the company’s stock valued at $137,000 after buying an additional 479 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in The Goodyear Tire & Rubber Co. by 9.3% in the second quarter. Daiwa Securities Group Inc. now owns 6,450 shares of the company’s stock valued at $166,000 after buying an additional 550 shares in the last quarter. TradeLink Capital LLC boosted its stake in The Goodyear Tire & Rubber Co. by 4.6% in the second quarter. TradeLink Capital LLC now owns 7,833 shares of the company’s stock valued at $201,000 after buying an additional 343 shares in the last quarter. Finally, Telemus Capital LLC purchased a new stake in The Goodyear Tire & Rubber Co. during the second quarter valued at $207,000. Hedge funds and other institutional investors own 92.12% of the company’s stock.

About The Goodyear Tire & Rubber Co.

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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