With over 4.16 million Goodyear Tire & Rubber Co. (GT) shares trading Monday and a closing price of $14.02 on the day, the dollar volume was approximately $58.34 million. The shares have shown a negative half year performance of -2.37% and its price on 11/27/23 lost nearly -0.57%. Currently, there are 282.90M common shares owned by the public and among those 281.96M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for GT have a consensus price objective of $16.33. The analysts have set the share’s price value over the next 12 months at a high of $21.00 and a low of $13.00. The average price target is 14.15% above its recent price level and a downside to the estimated low will see the stock lose -7.85% over that period. But an upside of 33.24% will see the stock hit the forecast high price target while median target price for the stock is $16.50.
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Insiders at the company have transacted a total of 38 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 614,263 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 224,919 shares.
Shares of Goodyear Tire & Rubber Co. (NASDAQ: GT) opened at $14.02, down -$0.08 from a prior closing price of $14.10. However, the script later moved the day high at 14.15, down -0.57%. The company’s stock has a 5-day price change of -1.13% and 8.68% over the past three months. GT shares are trading 38.13% year to date (YTD), with the 12-month market performance up to 24.18% higher. It has a 12-month low price of $9.66 and touched a high of $16.50 over the same period. GT has an average intraday trading volume of 3.34 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.54%, 11.28%, and 11.34% respectively.
Institutional ownership of Goodyear Tire & Rubber Co. (NASDAQ: GT) shares accounts for 84.30% of the company’s 282.90M shares outstanding.
It has a market capitalization of $3.98B and a beta (3y monthly) value of 1.82. The earnings-per-share (ttm) stands at -$1.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.60% over the week and 3.95% over the month.
Analysts forecast that Goodyear Tire & Rubber Co. (GT) will achieve an EPS of $0.35 for the current quarter, $0.22 for the next quarter and $1.39 for 2024. The lowest estimate earnings-per-share for the quarter is $0.19 while analysts give the company a high EPS estimate of $0.61. Comparatively, EPS for the current quarter was $0.07 a year ago. Earnings per share for the fiscal year are expected to decrease by -93.56%, and 1564.47% over the next financial year. EPS should grow at an annualized rate of 14.29% over the next five years, compared to -12.38% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Goodyear Tire & Rubber Co. (GT) as a “Moderate Buy” at a consensus score of 2.11. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 5 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GT, a number of firms have released research notes about the stock. Deutsche Bank stated their Buy rating for the stock in a research note on November 16, 2023, with the firm’s price target at $13-$21.
