The Goodyear Tire & Rubber Company (NASDAQ:GT – Get Free Report) saw a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 15,880,000 shares, a decline of 11.1% from the August 31st total of 17,860,000 shares. Currently, 5.6% of the company’s shares are sold short. Based on an average daily trading volume, of 5,080,000 shares, the days-to-cover ratio is currently 3.1 days.
Goodyear Tire & Rubber Trading Up 5.0 %
Shares of GT stock opened at $8.77 on Friday. The stock has a fifty day moving average of $8.89 and a two-hundred day moving average of $11.04. The firm has a market capitalization of $2.50 billion, a PE ratio of -3.88 and a beta of 1.70. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 1.06. Goodyear Tire & Rubber has a 1 year low of $7.27 and a 1 year high of $15.24.
Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.10. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) earnings per share. As a group, research analysts expect that Goodyear Tire & Rubber will post 1.06 EPS for the current year.
Institutional Trading of Goodyear Tire & Rubber
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. StockNews.com lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Finally, Morgan Stanley initiated coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.23.
Get Our Latest Stock Report on Goodyear Tire & Rubber
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. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.
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