The Goodyear Tire & Rubber Company (GT) Downgraded by BidaskClub to Sell

BidaskClub cut shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) from a hold rating to a sell rating in a research report released on Friday, November 3rd.

A number of other brokerages have also recently weighed in on GT. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber from a sell rating to a hold rating in a research note on Friday, July 21st. ValuEngine cut shares of The Goodyear Tire & Rubber from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Deutsche Bank AG cut shares of The Goodyear Tire & Rubber from a buy rating to a hold rating and set a $40.00 target price for the company. in a research note on Friday, July 28th. Morgan Stanley set a $52.00 target price on shares of The Goodyear Tire & Rubber and gave the stock a buy rating in a research note on Friday, July 28th. Finally, Jefferies Group LLC restated a buy rating and issued a $36.00 target price on shares of The Goodyear Tire & Rubber in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $37.55.

Shares of The Goodyear Tire & Rubber (NASDAQ:GT) traded up $0.16 during trading hours on Friday, hitting $29.22. 551,255 shares of the company’s stock were exchanged, compared to its average volume of 2,903,548. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.37. The stock has a market cap of $7,190.00, a P/E ratio of 9.47, a PEG ratio of 0.82 and a beta of 1.51. The Goodyear Tire & Rubber has a 52 week low of $28.81 and a 52 week high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, October 27th. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.03. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.91 billion. The Goodyear Tire & Rubber had a net margin of 6.67% and a return on equity of 15.88%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $1.17 EPS. research analysts expect that The Goodyear Tire & Rubber will post 2.88 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 1st will be issued a dividend of $0.14 per share. This is an increase from The Goodyear Tire & Rubber’s previous quarterly dividend of $0.10. This represents a $0.56 annualized dividend and a yield of 1.92%. The ex-dividend date is Tuesday, October 31st. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is 14.47%.

In other The Goodyear Tire & Rubber news, insider Jean Claude Kihn sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $33.26, for a total transaction of $249,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 22,712 shares of company stock valued at $728,079 over the last 90 days. 1.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Financial Architects Inc boosted its position in shares of The Goodyear Tire & Rubber by 2.2% in the second quarter. Financial Architects Inc now owns 3,546 shares of the company’s stock worth $124,000 after acquiring an additional 75 shares during the last quarter. First Quadrant L P CA acquired a new stake in shares of The Goodyear Tire & Rubber in the second quarter worth approximately $130,000. Washington Trust Bank boosted its position in shares of The Goodyear Tire & Rubber by 46.3% in the second quarter. Washington Trust Bank now owns 3,885 shares of the company’s stock worth $136,000 after acquiring an additional 1,230 shares during the last quarter. Exane Derivatives boosted its position in shares of The Goodyear Tire & Rubber by 204,800.0% in the second quarter. Exane Derivatives now owns 4,098 shares of the company’s stock worth $143,000 after acquiring an additional 4,096 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of The Goodyear Tire & Rubber by 143.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,557 shares of the company’s stock worth $152,000 after acquiring an additional 2,682 shares during the last quarter. Institutional investors and hedge funds own 91.93% of the company’s stock.

About The Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

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

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