The Goodyear Tire & Rubber Company (GT) Given a $29.00 Price Target at Goldman Sachs Group, Inc. (The)

Goldman Sachs Group, Inc. (The) set a $29.00 price objective on The Goodyear Tire & Rubber Company (NASDAQ:GT) in a report released on Tuesday, August 1st. The firm currently has a hold rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley upgraded shares of The Goodyear Tire & Rubber from an underweight rating to an overweight rating in a research report on Thursday, June 1st. Zacks Investment Research upgraded shares of The Goodyear Tire & Rubber from a hold rating to a buy rating and set a $38.00 price target on the stock in a research report on Monday, April 17th. BidaskClub cut shares of The Goodyear Tire & Rubber from a hold rating to a sell rating in a research report on Tuesday, July 25th. Jefferies Group LLC set a $40.00 price objective on shares of The Goodyear Tire & Rubber and gave the stock a hold rating in a research note on Monday, May 8th. Finally, ValuEngine lowered shares of The Goodyear Tire & Rubber from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The Goodyear Tire & Rubber currently has an average rating of Hold and a consensus price target of $38.10.

Shares of The Goodyear Tire & Rubber (GT) opened at 29.75 on Tuesday. The company has a 50-day moving average price of $33.47 and a 200-day moving average price of $34.42. The Goodyear Tire & Rubber has a 12-month low of $26.82 and a 12-month high of $37.20. The firm has a market capitalization of $7.49 billion, a P/E ratio of 6.48 and a beta of 1.53.

The Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Friday, July 28th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the firm posted $1.16 EPS. The Goodyear Tire & Rubber’s revenue was down 5.0% compared to the same quarter last year. Equities analysts predict that The Goodyear Tire & Rubber will post $3.10 EPS for the current year.

WARNING: This article was reported by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The original version of this article can be accessed at https://www.com-unik.info/2017/08/19/goldman-sachs-group-inc-the-analysts-give-the-goodyear-tire-rubber-company-gt-a-29-00-price-target-updated-updated.html.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, July 28th. This represents a $0.40 annualized dividend and a yield of 1.34%. The Goodyear Tire & Rubber’s payout ratio is 8.77%.

In other The Goodyear Tire & Rubber news, insider Stephen R. Mcclellan sold 6,250 shares of the stock in a transaction on 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 owns 71,849 shares in the company, valued at $2,547,765.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 12,789 shares of company stock valued at $450,950 in the last quarter. 1.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GT. Vanguard Group Inc. boosted its stake in The Goodyear Tire & Rubber by 1.6% in the second quarter. Vanguard Group Inc. now owns 24,670,006 shares of the company’s stock worth $862,464,000 after buying an additional 394,170 shares during the period. BlackRock Inc. boosted its stake in The Goodyear Tire & Rubber by 3,674.6% in the first quarter. BlackRock Inc. now owns 22,277,221 shares of the company’s stock worth $801,980,000 after buying an additional 21,687,034 shares during the period. State Street Corp boosted its stake in The Goodyear Tire & Rubber by 2.3% in the first quarter. State Street Corp now owns 12,706,654 shares of the company’s stock worth $457,442,000 after buying an additional 287,023 shares during the period. LSV Asset Management boosted its stake in The Goodyear Tire & Rubber by 6.6% in the second quarter. LSV Asset Management now owns 10,230,101 shares of the company’s stock worth $357,644,000 after buying an additional 634,919 shares during the period. Finally, Wellington Management Group LLP boosted its stake in The Goodyear Tire & Rubber by 8.5% in the first quarter. Wellington Management Group LLP now owns 7,435,492 shares of the company’s stock worth $267,678,000 after buying an additional 581,628 shares during the period. 94.10% of the stock is currently owned by hedge funds and other institutional investors.

About The Goodyear Tire & Rubber

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.

Analyst Recommendations for The Goodyear Tire & Rubber (NASDAQ:GT)

What are top analysts saying about The Goodyear Tire & Rubber Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for The Goodyear Tire & Rubber Company and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit