The Goodyear Tire & Rubber Company (NASDAQ:GT)’s traded shares stood at 1,560,850 during the last session, with the company’s beta value hitting 2.13. At the close of trading, the stock’s price was $10.31, to imply a decline of -4.18% or -$0.45 in intraday trading. The GT share’s 52-week high remains $16.63, putting it -61.3% down since that peak but still an impressive +60.33% since price per share fell to its 52-week low of $4.09. The company has a valuation of $2.4 Billion, with an average of 3.74 Million shares in intraday trading volume over the past 10 days and average of 3.65 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Overweight for The Goodyear Tire & Rubber Company (GT), translating to a mean rating of 2.6. Of 8 analyst(s) looking at the stock, none analyst(s) give GT a Sell rating. None of those analysts rate the stock as Overweight while 5 advise Hold as 3 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s earnings per share at $0.17.
The Goodyear Tire & Rubber Company (NASDAQ:GT) trade information
After registering a -4.18% downside on the day, The Goodyear Tire & Rubber Company (GT) has traded green over the past five days. The stock hit a weekly high of $11.07- this Wednesday, Nov 18, jumping 7.58% in its intraday price action. The 5-day price performance for the stock is 2.4%, and 3.96% over 30 days. With these gigs, the year-to-date price performance is -34.23%. Short interest in The Goodyear Tire & Rubber Company (NASDAQ:GT) saw shorts transact 6.99 Million shares and set a 1.92 days time to cover.
Analysts on Wall Street suggest a consensus price target of $11.71, implying an increase of 13.58% to the stock’s current value. The extremes give us $6 and $20 for target low and target high price respectively. As such, GT is trading +93.99% off suggested target high and -41.8% from its likely low.
The Goodyear Tire & Rubber Company (GT) estimates and forecasts
Looking at statistics comparing The Goodyear Tire & Rubber Company share performance against respective industry, we note that the company has underperformed competitors. The Goodyear Tire & Rubber Company (GT) shares are +50.81% up over the last 6 months, with its year-to-date growth rate lower than industry average at -301.85% against -18.8%. But the company is tempering its growth estimates for the 2020 fiscal year. Revenue is forecast to decline -10.5% this quarter before jumping 100% for the next one. The company projects its revenue will drop -13% compared to the previous financial year.
Forecast revenue for the current quarter as set by 5 analysts is $3.6 Billion. Meanwhile, for the quarter ending March 01, 2021, a total of 2 analyst(s) estimate revenue growth to $3.4 Billion. Earnings reports from the last fiscal year show that sales brought in $3.71 Billion for this quarter and $3.06 Billion the next quarter. In this case, analysts estimate current quarter sales to dip -3.1% before jumping 11.3% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings fell an estimated -16.6% for the past 5-year period. While 2020 is set for a -145.5% return in earnings, projections for the next 5 years are at 4.9% annually.
The Goodyear Tire & Rubber Company (NASDAQ:GT)’s Major holders
The Goodyear Tire & Rubber Company insiders hold 0.29% of total outstanding shares, with institutional holders owning 83.13% of the shares at 83.37% float percentage. In total, 417 institutions holds shares in the company, led by Blackrock Inc. As of Sep 29 this year, the company held over 25.59 Million shares (or 10.98% of shares), all amounting to roughly $196.31 Million.
The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 20.39 Million shares, or about 8.75% of shares outstanding. As of the market price on 44103, these shares were worth $156.42 Million.
We also have Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF as the top two Mutual Funds with the largest holdings of the The Goodyear Tire & Rubber Company (GT) shares. Going by data provided on 44011, Vanguard Total Stock Market Index Fund holds roughly 6,683,863 shares. This is just over 2.87% of the total shares, with a market valuation of $59.79 Million. Data from the same date shows that the other fund manager holds a little less at 6.13 Million, or 2.63% of the shares, all valued at about $46.98 Million.