The Goodyear Tire & Rubber Company (NASDAQ:GT) currently has a daily average trading volume of 5.22M but it saw 3799828 shares traded on Thursday. With a market cap of 4.07B USD, stock’s current market price of $14.13 came rising about 2.17 while comparing to the previous closing price of $13.83. In past 52 weeks, the stock remained buoying in the range of price level as high as $15.69 and as low as $9.66. In the recent trading on the day, stock has struck highest price mark of $14.205 while lowest mark touched by it was $13.80.
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Taking a look at 20-day trading activity of The Goodyear Tire & Rubber Company (GT) gives us an average price of $12.86, while its current price level is -9.94% below from 52-week high level whereas it is 46.27% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $11.47 while that of 200 days or SMA-200 reads an average of $11.62. A closer look into the stock’s movement over the week reveals that its volatility is standing at 3.33% during that period while stretching the period over a month that increases to 4.80%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 67.11 which implies that the stock is in neutral territory.
The Goodyear Tire & Rubber Company (GT)’s stock is currently under the radar of 8 analysts who are in consensus at a 12-month price target range of between $13.00 and $19.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $13.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $19.00. Average price target assigned by them is $14.86 which highlights an upside potential of 4.91% for the stock over that period. And to attain the median price target of $13.00 assigned by those analysts, stock has to subtract about -8.69% of value to its current levels.
Data by FactSet Research shows that 8 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 3 analysts suggested the investors to Buy the stock while 5 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Overweight for the stock and that issued by Wall Street to investors is Moderate Buy.
Over the week, GT’s stock price is moving -0.84% down while it is 37.72% when we observe its performance for the past one month. Year-to-date it is 39.21% up and over the past year, the stock is showing an upside performance of 24.38%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of -$0.29 beat the consensus estimate of -$0.3 for the same. The company is expected to be releasing its next quarterly report in 08/04/2023, for which analysts forecasted an EPS of $0.21 while estimate for next year EPS is $1.01. For GT, analysts are forecasting an EPS-growth rate of -22.30% for current year and estimate for EPS growth in next year is 71.30%. In next quarter, company is expected to be making quarterly sales of $5.52 billion as analysts are expecting the sales for current fiscal year at $21.4 billion and seeing the company making $21.93 billion in sales next year. Moreover, analysts are in estimates of $5.27 billion for current-quarter revenue.
Currently, The Goodyear Tire & Rubber Company’s total number of outstanding shares is 285.00M with 0.49% of that held by the insiders while 81.90% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 3.90% and return on equity (ROE) at 0.10%. It has a price to earnings ratio (P/E ratio) of 1009.29 while having a 8.15 of forward P/E ratio. Stock’s beta reads 1.75. Stock has a price to book (P/B) ratio of 0.77 while price to sale or P/S ratio amounts to 0.20. Its return on asset (ROA) is 0.00% on average.
A filing at the U.S. Securities and Exchange Commission revealed that iShares Core S&P Mid Cap ETF came shrinking its share ownership by 0.26% in the The Goodyear Tire & Rubber Company (GT) increasing its stake to 3.12% with control over 23238.0 shares in the company. As per SEC documents, iShares Core S&P Mid Cap ETF sought 8,826,739 of company’s common stock of worth $94.18 million as per recent closing price of the stock. iShares Core S&P Mid Cap ETF is not the only institutional holder which restructured its stake in The Goodyear Tire & Rubber Company, as Vanguard Total Stock Market ETF picked 8,760,043 shares of worth $93.47 million to bring its holdings to a total of 3772.0 shares. In the most recent quarter, Vanguard Small Cap Index Fund came cutting its stake by -0.02% in the company and now holds 7.4 million or 2.62% of the company’s stake having worth of about 79.01 million.
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