Gains May Be On The Menu For Goodyear Tire & Rubber Co. (NASDAQ: GT)

Currently, there are 282.90M common shares owned by the public and among those 281.69M shares have been available to trade.

Insiders at the company have transacted a total of 16 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 253,147 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 95,609 shares.

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The company’s stock has a 5-day price change of 1.04% and 9.92% over the past three months. GT shares are trading -4.82% year to date (YTD), with the 12-month market performance up to 26.91% higher. It has a 12-month low price of $9.85 and touched a high of $16.50 over the same period. GT has an average intraday trading volume of 2.53 shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.03%, -3.06%, and 1.59% respectively.

Institutional ownership of Goodyear Tire & Rubber Co. (NASDAQ: GT) shares accounts for 84.93% of the company’s 282.90M shares outstanding.

It has a market capitalization of $3.86B and a beta (3y monthly) value of 1.87. 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 3.13% over the week and 3.34% over the month.

Analysts forecast that Goodyear Tire & Rubber Co. (GT) will achieve an EPS of $0.36 for the current quarter, $0.25 for the next quarter and $1.45 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 increase by 591.47%, and 48.13% over the next financial year. EPS should grow at an annualized rate of 26.30% over the next five years, compared to -12.38% over the past 5-year period.

Looking at the support for the GT, a number of firms have released research notes about the stock. HSBC Securities stated their Buy rating for the stock in a research note on December 04, 2023, with the firm’s price target at $16.80.

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