During the recent session, The Goodyear Tire & Rubber Company (NASDAQ:GT)’s traded shares were 2.25 million, with the beta value of the company hitting 1.89. At the last check today, the stock’s price was $13.40, reflecting an intraday gain of 6.56% or $0.83. The 52-week high for the GT share is $24.89, that puts it down -85.75 from that peak though still a striking 22.91% gain since the share price plummeted to a 52-week low of $10.33. The company’s market capitalization is $3.28B, and the average intraday trading volume over the past 10 days was 3.82 million shares, and the average trade volume was 4.73 million shares over the past three months.
The Goodyear Tire & Rubber Company (GT) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. GT has a Sell rating from 0 analyst(s) out of 9 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.34.
The Goodyear Tire & Rubber Company (NASDAQ:GT) trade information
The Goodyear Tire & Rubber Company (GT) registered a 6.56% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 6.56% in intraday trading to $13.40 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 4.32%, and it has moved by 19.83% in 30 days. Based on these gigs, the overall price performance for the year is -16.03%. The short interest in The Goodyear Tire & Rubber Company (NASDAQ:GT) is 13.72 million shares and it means that shorts have 3.27 day(s) to cover.
The consensus price target of analysts on Wall Street is $18.19, which implies an increase of 26.33% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $12.00 and $28.00 respectively. As a result, GT is trading at a discount of -108.96% off the target high and 10.45% off the low.
The Goodyear Tire & Rubber Company (GT) estimates and forecasts
Statistics show that The Goodyear Tire & Rubber Company has outperformed its competitors in share price, compared to the industry in which it operates. The Goodyear Tire & Rubber Company (GT) shares have gone down -42.55% during the last six months, with a year-to-date growth rate more than the industry average at -0.48% against -3.70. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 6.30% this quarter and then drop -36.10% in the quarter after that. In the rating firms’ projections, revenue will increase 18.20% compared to the previous financial year.
Revenue for the current quarter is expected to be $4.98 billion as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $5.28 billion by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $3.98 billion and $4.75 billion respectively. In this case, analysts expect current quarter sales to grow by 25.10% and then jump by 11.20% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -9.40%. While earnings are projected to return 154.00% in 2022, the next five years will return 9.13% per annum.
The Goodyear Tire & Rubber Company is due to release its next quarterly earnings between April 28 and May 02. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
The Goodyear Tire & Rubber Company (NASDAQ:GT)’s Major holders
The Goodyear Tire & Rubber Company insiders own 0.41% of total outstanding shares while institutional holders control 85.04%, with the float percentage being 85.39%. Blackrock Inc. is the largest shareholder of the company, while 538 institutions own stock in it. As of Mar 30, 2022, the company held over 35.77 million shares (or 12.66% of all shares), a total value of $511.11 million in shares.
The next largest institutional holding, with 28.35 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 10.04% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $405.11 million.
Also, the Mutual Funds coming in first place with the largest holdings of The Goodyear Tire & Rubber Company (GT) shares are Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 8.25 million shares. This amounts to just over 2.92 percent of the company’s overall shares, with a $117.92 million market value. The same data shows that the other fund manager holds slightly less at 8.15 million, or about 2.89% of the stock, which is worth about $87.33 million.