BidaskClub lowered shares of Goodyear Tire & Rubber (NASDAQ:GT) from a sell rating to a strong sell rating in a report released on Saturday morning, BidAskClub reports.

GT has been the subject of several other research reports. Morgan Stanley set a $14.00 price objective on Goodyear Tire & Rubber and gave the company a hold rating in a research report on Wednesday, June 26th. Citigroup lowered their target price on Goodyear Tire & Rubber from $16.00 to $14.00 and set a neutral rating for the company in a research note on Tuesday, July 30th. Zacks Investment Research raised Goodyear Tire & Rubber from a sell rating to a hold rating in a research note on Wednesday, May 1st. KeyCorp began coverage on Goodyear Tire & Rubber in a research note on Wednesday, May 22nd. They issued a sector weight rating and a $14.93 target price for the company. Finally, Longbow Research raised Goodyear Tire & Rubber from an underperform rating to a neutral rating and set a $14.74 target price for the company in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Goodyear Tire & Rubber has an average rating of Hold and an average price target of $19.46.

Shares of GT opened at $11.92 on Friday. The company has a fifty day simple moving average of $14.21. The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 1.27. Goodyear Tire & Rubber has a 52-week low of $11.62 and a 52-week high of $24.85. The company has a market cap of $2.77 billion, a P/E ratio of 5.14 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.06). Goodyear Tire & Rubber had a net margin of 3.02% and a return on equity of 7.66%. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Goodyear Tire & Rubber will post 1.55 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 5.37%. Goodyear Tire & Rubber’s dividend payout ratio (DPR) is currently 27.59%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Goodyear Tire & Rubber by 46.9% during the first quarter. BlackRock Inc. now owns 24,518,651 shares of the company’s stock worth $445,017,000 after purchasing an additional 7,827,837 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Goodyear Tire & Rubber by 3.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,952,083 shares of the company’s stock worth $141,894,000 after purchasing an additional 253,943 shares during the period. Sound Shore Management Inc. CT grew its stake in shares of Goodyear Tire & Rubber by 4.6% during the first quarter. Sound Shore Management Inc. CT now owns 6,578,014 shares of the company’s stock worth $119,391,000 after purchasing an additional 291,388 shares during the period. Geode Capital Management LLC grew its stake in shares of Goodyear Tire & Rubber by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 3,515,759 shares of the company’s stock worth $71,647,000 after purchasing an additional 226,311 shares during the period. Finally, Newport Trust Co grew its stake in shares of Goodyear Tire & Rubber by 1.4% during the second quarter. Newport Trust Co now owns 3,293,968 shares of the company’s stock worth $50,398,000 after purchasing an additional 45,990 shares during the period. 80.96% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Company Profile

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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