In the last trading session, 4.86 million shares of the The Goodyear Tire & Rubber Company (NASDAQ:GT) were traded, and its beta was 2.04. Most recently the company’s share price was $18.76, and it changed around $0.2 or 1.08% from the last close, which brings the market valuation of the company to $5.22B. GT currently trades at a discount to its 52-week high of $20.70, offering almost -10.34% off that amount. The share price’s 52-week low was $8.18, which indicates that the current value has risen by an impressive 56.4% since then. We note from The Goodyear Tire & Rubber Company’s average daily trading volume that its 10-day average is 4.2 million shares, with the 3-month average coming to 3.38 million.
The Goodyear Tire & Rubber Company stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.20. If we narrow it down even further, the data shows that 1 out of 9 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 4 recommended GT as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. The Goodyear Tire & Rubber Company is expected to report earnings per share of $0.3 for the current quarter.
The Goodyear Tire & Rubber Company (NASDAQ:GT) trade information
Instantly GT has showed a green trend with a performance of 1.08% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 19.50 on Friday, 10/08/21 increased the stock’s daily price by 3.79%. The company’s shares are currently up 71.95% year-to-date, but still up 0.86% over the last five days. On the other hand, The Goodyear Tire & Rubber Company (NASDAQ:GT) is 19.34% up in the 30-day period. We can see from the shorts that 11.82 million shares have been sold at a short interest cover period of 2.95 day(s).
The consensus price target as assigned by Wall Street analysts is $20.00, which translates to bulls needing to increase their stock price by 6.2% from its current value. Analyst projections state that GT is forecast to be at a low of $12.00 and a high of $24.00. In order for the stock price to hit the forecast high, the stock would need to plunge -27.93% from its current level, while the stock would need to crash 36.03% from its current level to reach the projected low.
The Goodyear Tire & Rubber Company (GT) estimates and forecasts
Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 200.00% in revenue this quarter, and will report a decrease of -29.50% in the next quarter. The year-over-year growth rate is expected to be 36.30%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $4.68 billion in revenue for the current quarter. 6 analysts expect The Goodyear Tire & Rubber Company to make $4.84 billion in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $3.46 billion and $3.66 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 35.20%. Forecasts for the next quarter put sales growth at 32.40%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -46.60%. The Goodyear Tire & Rubber Company earnings are expected to increase by -301.50% in 2021, but the outlook is positive 9.13% per year for the next five years.
The Goodyear Tire & Rubber Company’s next quarterly earnings report is expected to be released around October 28 and November 01.
The Goodyear Tire & Rubber Company (NASDAQ:GT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.34% of The Goodyear Tire & Rubber Company shares, and 72.68% of them are in the hands of institutional investors. The stock currently has a share float of 72.93%. The Goodyear Tire & Rubber Company stock is held by 448 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2021, it held 11.93% of the shares, which is about 28.03 million shares worth $492.45 million.
Vanguard Group, Inc. (The), with 9.14% or 21.48 million shares worth $377.32 million as of Mar 30, 2021, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF were the top two Mutual Funds as of Mar 30, 2021. The former held 6.59 million shares worth $115.74 million, making up 2.80% of all outstanding shares. On the other hand, iShares Core S&P Midcap ETF held roughly 6.4 million shares worth around $110.07 million, which represents about 2.72% of the total shares outstanding.