Goodyear Tire & Rubber (GT) Cut to “Hold” at Argus

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Argus lowered shares of Goodyear Tire & Rubber (NASDAQ:GT) from a buy rating to a hold rating in a research note published on Monday morning, MarketBeat.com reports.

A number of other equities research analysts have also recently weighed in on the stock. Longbow Research cut shares of Goodyear Tire & Rubber from a neutral rating to an underperform rating and set a $14.00 price target for the company. in a research report on Monday. ValuEngine cut shares of Goodyear Tire & Rubber from a sell rating to a strong sell rating in a research report on Friday, February 8th. Jefferies Financial Group reissued a buy rating and issued a $25.00 price target on shares of Goodyear Tire & Rubber in a research report on Tuesday, February 5th. Zacks Investment Research cut shares of Goodyear Tire & Rubber from a hold rating to a strong sell rating in a research report on Tuesday, February 5th. Finally, Morgan Stanley set a $19.00 price target on shares of Goodyear Tire & Rubber and gave the company a hold rating in a research report on Tuesday, January 29th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Goodyear Tire & Rubber has an average rating of Hold and a consensus target price of $23.56.

Shares of GT opened at $18.63 on Monday. Goodyear Tire & Rubber has a 1-year low of $17.88 and a 1-year high of $30.07. The firm has a market capitalization of $4.35 billion, a P/E ratio of 8.03, a P/E/G ratio of -1.48 and a beta of 1.60. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 0.76.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Friday, February 8th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.09). Goodyear Tire & Rubber had a net margin of 4.48% and a return on equity of 11.24%. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period last year, the firm earned $0.99 earnings per share. Goodyear Tire & Rubber’s revenue was down 4.8% on a year-over-year basis. As a group, sell-side analysts predict that Goodyear Tire & Rubber will post 2.57 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 1st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.44%. This is a boost from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, January 31st. Goodyear Tire & Rubber’s dividend payout ratio is presently 27.59%.

Several large investors have recently made changes to their positions in GT. First Mercantile Trust Co. purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $35,000. Captrust Financial Advisors purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $43,000. Fort L.P. purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $85,000. Dupont Capital Management Corp raised its holdings in shares of Goodyear Tire & Rubber by 44.8% in the fourth quarter. Dupont Capital Management Corp now owns 4,313 shares of the company’s stock valued at $88,000 after buying an additional 1,335 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Goodyear Tire & Rubber by 35.7% in the fourth quarter. IFP Advisors Inc now owns 5,315 shares of the company’s stock valued at $108,000 after buying an additional 1,397 shares during the last quarter. 89.49% of the stock is owned by institutional investors and hedge funds.

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. 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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