BNP Paribas initiated coverage on shares of Goodyear Tire & Rubber (NASDAQ:GT) in a report released on Friday morning, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $10.00 price objective on the stock.

A number of other brokerages also recently issued reports on GT. Citigroup lowered their price target on shares of Goodyear Tire & Rubber from $16.00 to $14.00 and set a neutral rating on the stock in a report on Tuesday, July 30th. ValuEngine downgraded shares of Goodyear Tire & Rubber from a sell rating to a strong sell rating in a report on Thursday, May 9th. Longbow Research raised shares of Goodyear Tire & Rubber from an underperform rating to a neutral rating and set a $14.74 price target on the stock in a report on Thursday, June 6th. Zacks Investment Research raised shares of Goodyear Tire & Rubber from a sell rating to a hold rating in a report on Wednesday, May 1st. Finally, Morgan Stanley set a $14.00 price target on shares of Goodyear Tire & Rubber and gave the stock a hold rating in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $18.07.

NASDAQ GT opened at $11.71 on Friday. The company has a market cap of $2.58 billion, a PE ratio of 5.05 and a beta of 1.71. Goodyear Tire & Rubber has a 52 week low of $10.97 and a 52 week high of $24.85. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 1.27. The firm’s 50-day simple moving average is $13.99 and its two-hundred day simple moving average is $16.76.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Friday, July 26th. The company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.06). The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Goodyear Tire & Rubber had a net margin of 3.02% and a return on equity of 7.66%. Goodyear Tire & Rubber’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. As a group, equities research analysts anticipate that Goodyear Tire & Rubber will post 1.53 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date is Wednesday, July 31st. Goodyear Tire & Rubber’s dividend payout ratio is currently 27.59%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Investors Research Corp bought a new position in shares of Goodyear Tire & Rubber in the first quarter worth approximately $25,000. Quadrant Capital Group LLC grew its holdings in shares of Goodyear Tire & Rubber by 1,678.5% in the first quarter. Quadrant Capital Group LLC now owns 2,650 shares of the company’s stock worth $47,000 after purchasing an additional 2,501 shares during the last quarter. HM Payson & Co. bought a new position in shares of Goodyear Tire & Rubber in the second quarter worth approximately $58,000. Advisory Services Network LLC grew its holdings in shares of Goodyear Tire & Rubber by 46.3% in the first quarter. Advisory Services Network LLC now owns 5,200 shares of the company’s stock worth $94,000 after purchasing an additional 1,645 shares during the last quarter. Finally, Employers Holdings Inc. bought a new position in shares of Goodyear Tire & Rubber in the second quarter worth approximately $106,000. 80.07% of the stock is currently owned by institutional investors and hedge funds.

About Goodyear Tire & Rubber

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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