A number of research firms have changed their ratings and price targets for The Goodyear Tire & Rubber (NASDAQ: GT):

  • 8/7/2017 – The Goodyear Tire & Rubber was given a new $36.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 8/2/2017 – The Goodyear Tire & Rubber was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 8/2/2017 – The Goodyear Tire & Rubber had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $46.00 price target on the stock, down previously from $52.00.
  • 8/1/2017 – The Goodyear Tire & Rubber was given a new $29.00 price target on by analysts at Goldman Sachs Group, Inc. (The). They now have a “hold” rating on the stock.
  • 7/31/2017 – The Goodyear Tire & Rubber was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Goodyear’s earnings and revenues missed the Zacks Consensus Estimate in the second quarter. Compared with the year-ago figures, both the earnings per share and revenue witnessed a decline. In the recent quarters, it has been facing high raw material costs and volume sales decline for which, it has also lowered its outlook toward total operating income for the year. Other challenges faced by the company include a competitive environment, high overhead expenses and currency fluctuations in the U.S. and Europe. Also, Goodyear’sshares have underperformed the industry it belongs to, in the last one month.”
  • 7/29/2017 – The Goodyear Tire & Rubber was given a new $39.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 7/28/2017 – The Goodyear Tire & Rubber was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 7/28/2017 – The Goodyear Tire & Rubber was given a new $52.00 price target on by analysts at Morgan Stanley. They now have a “buy” rating on the stock.
  • 7/28/2017 – The Goodyear Tire & Rubber was downgraded by analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating. They now have a $40.00 price target on the stock.
  • 7/25/2017 – The Goodyear Tire & Rubber was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/21/2017 – The Goodyear Tire & Rubber was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Goodyear has been investing in new projects and is undertaking regular product and service launches, which is expected to have a positive impact in the sales. Also, its effort to make organizational structural changes will boost its earnings and growth, over the long term. Further, to enhance its efficiency, Goodyear is also going through frequent product developments and market projections. In the last six months, its shares have also substantially outperformed the industry it belongs to. However, the company is facing challenges in Latin America on account of volatile political and economic environment, lower production volume in Venezuela and Brazil and high currency fluctuations. Also, the recession in Brazil is expected to adversely impact the future operating income from the region.”
  • 7/12/2017 – The Goodyear Tire & Rubber was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/11/2017 – The Goodyear Tire & Rubber was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Goodyear’s current quarter and full year earnings estimates have declined lately. The company anticipates its 2017 operating income to be adversely affected by weak demand and high raw material costs. In fact, Goodyear’s revenue has shown a downward trend in the last six years. The company also faces challenges in Latin America on account of volatile political and economic environment, lower production volume in Venezuela and Brazil, and high currency fluctuations. Also, the recession in Brazil is expected to adversely impact the future operating income from the region. Goodyear also encounters pricing pressure from OEMs.”
  • 6/21/2017 – The Goodyear Tire & Rubber is now covered by analysts at Guggenheim. They set a “buy” rating and a $39.00 price target on the stock.
  • 6/21/2017 – The Goodyear Tire & Rubber is now covered by analysts at CLSA. They set a “buy” rating and a $39.00 price target on the stock.
  • 6/20/2017 – The Goodyear Tire & Rubber was upgraded by analysts at Jefferies Group LLC from a “hold” rating to a “buy” rating. They now have a $39.00 price target on the stock.

Shares of The Goodyear Tire & Rubber Company (GT) traded down 0.26% on Friday, hitting $30.35. 746,105 shares of the company traded hands. The stock’s 50-day moving average price is $34.17 and its 200-day moving average price is $34.47. The company has a market capitalization of $7.64 billion, a PE ratio of 6.61 and a beta of 1.53. The Goodyear Tire & Rubber Company has a 12 month low of $26.82 and a 12 month high of $37.20.

The Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, July 28th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.05. The Goodyear Tire & Rubber had a net margin of 7.95% and a return on equity of 18.94%. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business posted $1.16 earnings per share. The business’s revenue was down 5.0% compared to the same quarter last year. On average, equities analysts predict that The Goodyear Tire & Rubber Company will post $3.11 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.40 annualized dividend and a yield of 1.31%. The Goodyear Tire & Rubber’s dividend payout ratio (DPR) is currently 8.77%.

In other The Goodyear Tire & Rubber news, insider Stephen R. Mcclellan sold 6,250 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $35.46, for a total transaction of $221,625.00. Following the completion of the transaction, the insider now directly owns 71,849 shares in the company, valued at approximately $2,547,765.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.

The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company operates through three segments. The Americas segment develops, manufactures, distributes and sells tires and related products and services in North, Central and South America, and sells tires to various export markets. The Americas segment manufactures and sells tires for automobiles, trucks, buses, earthmoving, mining and industrial equipment, aircraft and for various other applications.

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