The Goodyear Tire & Rubber Company (NASDAQ:GT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have earned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $17.16.

Separately, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st.

Goodyear Tire & Rubber Price Performance

NASDAQ:GT opened at $11.71 on Friday. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -4.86 and a beta of 1.85. The company has a current ratio of 1.07, a quick ratio of 0.55 and a debt-to-equity ratio of 1.41. The company’s 50-day moving average is $12.58 and its two-hundred day moving average is $13.17. Goodyear Tire & Rubber has a 12-month low of $10.12 and a 12-month high of $16.50.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Tuesday, February 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.11. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.38 billion. Goodyear Tire & Rubber had a negative net margin of 3.43% and a positive return on equity of 1.16%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. Research analysts expect that Goodyear Tire & Rubber will post 1.12 EPS for the current year.

Institutional Trading of Goodyear Tire & Rubber

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new stake in Goodyear Tire & Rubber in the third quarter valued at approximately $125,650,000. Nomura Holdings Inc. lifted its stake in Goodyear Tire & Rubber by 1,498.4% in the first quarter. Nomura Holdings Inc. now owns 9,729,800 shares of the company’s stock valued at $107,222,000 after buying an additional 9,121,084 shares during the last quarter. Norges Bank bought a new stake in Goodyear Tire & Rubber in the fourth quarter valued at $66,842,000. Electron Capital Partners LLC bought a new stake in Goodyear Tire & Rubber in the third quarter valued at $51,031,000. Finally, BlackRock Inc. lifted its stake in Goodyear Tire & Rubber by 7.6% in the first quarter. BlackRock Inc. now owns 35,767,231 shares of the company’s stock valued at $511,113,000 after buying an additional 2,528,942 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.