Goodyear Tire & Rubber (GT) Hits New 1-Year Low at $17.54

Shares of Goodyear Tire & Rubber Co (NASDAQ:GT) hit a new 52-week low during trading on Thursday . The stock traded as low as $17.54 and last traded at $17.59, with a volume of 61662 shares. The stock had previously closed at $17.78.

Several brokerages have recently commented on GT. BidaskClub cut Goodyear Tire & Rubber from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. ValuEngine cut Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Saturday, March 9th. Argus cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Monday, February 11th. Longbow Research cut Goodyear Tire & Rubber from a “neutral” rating to an “underperform” rating and set a $14.00 target price on the stock. in a report on Monday, February 11th. Finally, Jefferies Financial Group restated a “buy” rating and set a $25.00 target price on shares of Goodyear Tire & Rubber in a report on Tuesday, February 5th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Goodyear Tire & Rubber currently has an average rating of “Hold” and a consensus price target of $23.56.

The company has a quick ratio of 0.64, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The company has a market cap of $4.14 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of -1.64 and a beta of 1.52.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Friday, February 8th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.09). Goodyear Tire & Rubber had a net margin of 4.48% and a return on equity of 11.17%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the company earned $0.99 EPS. The company’s revenue was down 4.8% compared to the same quarter last year. Equities research analysts predict that Goodyear Tire & Rubber Co will post 2.21 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 1st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Thursday, January 31st. This is a positive change from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. Goodyear Tire & Rubber’s dividend payout ratio is 27.59%.

In other news, Director Werner Geissler purchased 35,000 shares of the business’s stock in a transaction dated Wednesday, February 13th. The shares were acquired at an average price of $18.65 per share, with a total value of $652,750.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $932,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in GT. First Mercantile Trust Co. acquired a new position in Goodyear Tire & Rubber in the fourth quarter valued at about $35,000. Captrust Financial Advisors acquired a new position in Goodyear Tire & Rubber in the fourth quarter valued at about $43,000. CSat Investment Advisory L.P. lifted its stake in Goodyear Tire & Rubber by 58.9% in the fourth quarter. CSat Investment Advisory L.P. now owns 2,467 shares of the company’s stock valued at $50,000 after buying an additional 914 shares during the period. Fort L.P. acquired a new position in Goodyear Tire & Rubber in the fourth quarter valued at about $85,000. Finally, Dupont Capital Management Corp lifted its stake in 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 period. 87.64% of the stock is currently owned by hedge funds and other institutional investors.

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Goodyear Tire & Rubber Company Profile (NASDAQ:GT)

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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