Goodyear Tire & Rubber Co. [GT] stock prices are up 2.65% to $12.38 at the moment. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The GT shares have gain 4.21% over the last week, with a monthly amount drifted -10.74%, and not seem to be holding up well over a long-time horizon.
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On 4, March 2024, GOODYEAR ANNOUNCES WINNERS IN 40TH ANNIVERSARY HIGHWAY HERO PROGRAM. In a post published today on Yahoo Finance, Winners highlight the important role truckers play in keeping our highways safe by going above and beyond to help those in need.
From an analyst’s perspective:
Goodyear Tire & Rubber Co. [NASDAQ: GT] stock has seen the most recent analyst activity on December 04, 2023, when HSBC Securities initiated its Buy rating and assigned the stock a price target of $16.80. Previously, Deutsche Bank upgraded its rating to Buy on November 16, 2023, and elevated its price target to $21. On May 17, 2023, downgrade downgraded it’s rating to Neutral but maintained its price target of $17 on the stock. Exane BNP Paribas upgraded its rating to a Neutral but stick to its price target of $13 on May 15, 2023. Exane BNP Paribas downgraded its rating to a Underperform. Argus downgraded its rating to Hold for this stock on November 29, 2022. In a note dated July 18, 2022, Deutsche Bank downgraded an Hold rating on this stock and revised its target price from $19 to $15.
The stock price of Goodyear Tire & Rubber Co. [GT] has been fluctuating between $9.85 and $16.50 over the past year. Currently, Wall Street analysts expect the stock to reach $17.5 within the next 12 months. Goodyear Tire & Rubber Co. [NASDAQ: GT] shares were valued at $12.38 at the most recent close of the market. An investor can expect a potential return of 41.36% based on the average GT price forecast.
Analyzing the GT fundamentals
The Goodyear Tire & Rubber Co. [NASDAQ:GT] reported sales of 20.07B for trailing twelve months, representing a drop of -4.80%. Gross Profit Margin for this corporation currently stands at 0.17% with Operating Profit Margin at 0.0%, Pretax Profit Margin comes in at -0.03%, and Net Profit Margin reading is -0.03%. To continue investigating profitability, this company’s Return on Assets is posted at -0.03, Equity is -0.14 and Total Capital is 0.0. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.85.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 12.15 points at the first support level, and at 11.92 for the second support level. However, for the 1st resistance point, the stock is sitting at 12.56, and for the 2nd resistance point, it is at 12.73.
Goodyear Tire & Rubber Co. [GT] reported earnings per share of $0.47 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.36/share, meaning a difference of $0.11 and a surprise factor of 30.60%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.36 per share as compared to estimates of $0.19 per share, a difference of $0.17 representing a surprise of 89.50%.
Ratios To Look Out For
It’s worth pointing out that Goodyear Tire & Rubber Co. [NASDAQ:GT]’s Current Ratio is 1.07. As well, the Quick Ratio is 0.55, while the Cash Ratio is 0.13. Considering the valuation of this stock, the price to sales ratio is 0.18, the price to book ratio is 0.75.
Transactions by insiders
Recent insider trading involved WELLS DARREN R, EVP & Chief Admin. Officer, that happened on Feb 28 ’24 when 8509.0 shares were sold. EVP & Chief Admin. Officer, WELLS DARREN R completed a deal on Feb 27 ’24 to sell 237.0 shares. Meanwhile, EVP & Chief Admin. Officer WELLS DARREN R sold 10574.0 shares on Feb 20 ’24.
