The Goodyear Tire & Rubber Company Rating Increased to Neutral at McLean Capital Management (GT)
The Goodyear Tire & Rubber Company (NYSE:GT) was upgraded by research analysts at McLean Capital Management from a “sell” rating to a “neutral” rating in a report released on Friday, Analyst Ratings Network reports.
The Goodyear Tire & Rubber Company (NYSE:GT) traded down 0.41% during mid-day trading on Friday, hitting $26.54. 2,478,870 shares of the company’s stock traded hands. The Goodyear Tire & Rubber Company has a 52-week low of $11.83 and a 52-week high of $27.27. The stock’s 50-day moving average is $24.37 and its 200-day moving average is $22.19. The company has a market cap of $6.582 billion and a price-to-earnings ratio of 11.69.
The Goodyear Tire & Rubber Company (NYSE:GT) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.63 by $0.21. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.95 billion. The Goodyear Tire & Rubber Company’s revenue was down 5.0% compared to the same quarter last year. Analysts expect that The Goodyear Tire & Rubber Company will post $2.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 3rd. Investors of record on Friday, January 31st will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Wednesday, January 29th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Ned Davis Research upgraded shares of The Goodyear Tire & Rubber Company from a “neutral” rating to a “buy” rating in a research note on Tuesday. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of The Goodyear Tire & Rubber Company in a research note on Friday, February 14th. They now have a $29.00 price target on the stock, up previously from $26.00. Finally, analysts at Citigroup Inc. set a $32.00 price target on shares of The Goodyear Tire & Rubber Company in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $25.63.
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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