Goodyear Tire & Rubber Co.’s “Positive” Rating Reaffirmed at Goldman Sachs Group Inc. (GT)
Goodyear Tire & Rubber Co. (NYSE:GT)‘s stock had its “positive” rating restated by Goldman Sachs Group Inc. in a research note issued on Wednesday, Analyst Ratings News reports.
The analysts wrote, “Post 3Q13 results we are making minor adjustments to our 2013-2015 EPS estimates to $2.70/$3.14/$3.81 from $2.62/$3.14/$3.71 driven by the impact of the 3Q beat for 2013 as well as refinements we have made to our price/mix/raw material assumptions. Our six-month price target remains unchanged at $26, implying 25% upside.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Agricole initiated coverage on shares of Goodyear Tire & Rubber Co. in a research note to investors on Tuesday, October 22nd. They set a “buy” rating and a $29.00 price target on the stock. Separately, analysts at Deutsche Bank downgraded shares of Goodyear Tire & Rubber Co. from a “buy” rating to a “hold” rating in a research note to investors on Monday, October 21st. They now have a $26.00 price target on the stock, down previously from $29.00. Finally, analysts at Zacks upgraded shares of Goodyear Tire & Rubber Co. from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, September 27th. They now have a $27.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $21.57.
Goodyear Tire & Rubber Co. (NYSE:GT) traded up 1.54% on Wednesday, hitting $21.08. The stock had a trading volume of 2,584,671 shares. Goodyear Tire & Rubber Co. has a 52 week low of $10.91 and a 52 week high of $22.36. The stock’s 50-day moving average is $19.46 and its 200-day moving average is $15.37. The company has a market cap of $5.185 billion and a P/E ratio of 16.63.
Goodyear Tire & Rubber Co. (NYSE:GT) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.62 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.63 by $0.01. The company had revenue of $5.00 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was down 5.0% on a year-over-year basis. On average, analysts predict that Goodyear Tire & Rubber Co. will post $2.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Sunday, December 1st. Shareholders of record on Friday, November 1st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, October 30th.
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company, together with subsidiaries and joint ventures, develops, manufactures, markets and distributes tires for a range of applications.
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