Weekly Analysts’ Ratings Changes for Goodyear Tire & Rubber (GT)

A number of firms have modified their ratings and price targets on shares of Goodyear Tire & Rubber (NASDAQ: GT) recently:

  • 2/11/2019 – Goodyear Tire & Rubber was downgraded by analysts at Longbow Research from a “neutral” rating to an “underperform” rating. They now have a $14.00 price target on the stock.
  • 2/11/2019 – Goodyear Tire & Rubber was downgraded by analysts at Argus from a “buy” rating to a “hold” rating.
  • 2/8/2019 – Goodyear Tire & Rubber was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 2/5/2019 – Goodyear Tire & Rubber was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Of late, the Zacks Consensus Estimate for Goodyear’s fourth-quarter and 2018 earnings has been moving down. The company has been struggling with softening market conditions in China, economic volatility in Brazil and rise in raw material costs includes carbon black and synthetic rubber are concerns for Goodyear. Further, unfavorable foreign currency translation is another headwind for the tire supplier. In fact, the headwinds have compelled the company to lower its operating income projection to roughly $1.3 billion from the previous estimates of $1.45-$1.5 billion. Over the past three months, shares of Goodyear have underperformed against its industry. The company will release its fourth-quarter 2018 earnings on Feb 8.”
  • 2/5/2019 – Goodyear Tire & Rubber had its “buy” rating reaffirmed by analysts at Jefferies Financial Group Inc. They now have a $25.00 price target on the stock.
  • 1/29/2019 – Goodyear Tire & Rubber was given a new $19.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 1/21/2019 – Goodyear Tire & Rubber was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 1/21/2019 – Goodyear Tire & Rubber had its “hold” rating reaffirmed by analysts at Longbow Research.
  • 1/17/2019 – Goodyear Tire & Rubber was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Goodyear is witnessing a growth in demand for bigger rim size tires in the United States and Europe, which contributes to the momentum in EMEA and Americas segment. In order to be at par with the rising demand, it announced to expand production hub at Slovenia in December. The factory will raise production targets of 17 to 19-inch replacement consumer tires. Further, Goodyear launches innovative products and services to remain competitive in the market and drive revenues. However, softening market conditions in China, economic volatility in Brazil, rise in raw material costs and unfavorable foreign currency translation has compelled it to lower segment operating income projection to roughly $1.3 billion from the previous estimates of $1.45-$1.5 billion. Over the past three months, shares of Goodyear have underperformed against its industry.”
  • 1/15/2019 – Goodyear Tire & Rubber was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 1/15/2019 – Goodyear Tire & Rubber was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $24.00 price target on the stock. According to Zacks, “Goodyear is witnessing a growth in demand for bigger rim size tires in the United States and Europe, which contributes to the momentum in EMEA and Americas segment. In order to be at par with the rising demand, it announced to expand production hub at Slovenia in December. The factory will raise production targets of 17 to 19-inch replacement consumer tires. Further, Goodyear launches innovative products and services to remain competitive in the market and drive revenues. However, softening market conditions in China, economic volatility in Brazil, rise in raw material costs and unfavorable foreign currency translation has compelled it to lower segment operating income projection to roughly $1.3 billion from the previous estimates of $1.45-$1.5 billion. Over the past three months, shares of Goodyear have underperformed against its industry.”
  • 1/2/2019 – Goodyear Tire & Rubber was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “The Zacks Consensus Estimate for Goodyear’s fourth-quarter 2018 earnings has been moving up. The company is witnessing a growth in demand for bigger rim size tires in the United States and Europe, which contributes to the momentum in EMEA and Americas segment. In order to be at par with the rising demand, it announced to expand production hub at Slovenia in December. The factory will raise production targets of 17 to 19-inch replacement consumer tires. Further, Goodyear launches innovative products and services to remain competitive in the market and drive revenues. However, softening market conditions in China, economic volatility in Brazil, rise in raw material costs and unfavorable foreign currency translation has compelled it to lower segment operating income projection to roughly $1.3 billion from the previous estimates of $1.45-$1.5 billion. Over the past three months, shares of Goodyear have underperformed against its industry.”

Shares of Goodyear Tire & Rubber stock opened at $18.65 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $4.35 billion, a PE ratio of 8.04, a PEG ratio of -1.48 and a beta of 1.60. Goodyear Tire & Rubber Co has a fifty-two week low of $17.88 and a fifty-two week high of $30.73.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Friday, February 8th. The company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.09). The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $4.04 billion. Goodyear Tire & Rubber had a net margin of 4.48% and a return on equity of 11.24%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. Equities analysts anticipate that Goodyear Tire & Rubber Co will post 2.57 earnings per share for the current fiscal year.

The company also recently disclosed 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 is a positive change from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.43%. Goodyear Tire & Rubber’s dividend payout ratio is 27.59%.

Institutional investors have recently made changes to their positions in the company. First Mercantile Trust Co. acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth $35,000. Dupont Capital Management Corp raised its position in shares of Goodyear Tire & Rubber by 44.8% during the fourth quarter. Dupont Capital Management Corp now owns 4,313 shares of the company’s stock worth $88,000 after purchasing an additional 1,335 shares during the period. IFP Advisors Inc raised its position in shares of Goodyear Tire & Rubber by 35.7% during the fourth quarter. IFP Advisors Inc now owns 5,315 shares of the company’s stock worth $108,000 after purchasing an additional 1,397 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth $113,000. Finally, Columbia Asset Management acquired a new stake in shares of Goodyear Tire & Rubber during the third quarter worth $195,000. Institutional investors and hedge funds own 89.49% of the company’s stock.

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, 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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