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Why Should You Add The Goodyear Tire & Rubber Company (GT) To Your Portfolio?

The Goodyear Tire & Rubber Company (NASDAQ:GT) has a beta value of 1.85 and has seen 0.58 million shares traded in the recent trading session. The company, currently valued at $3.10B, closed the recent trade at $11.07 per share which meant it lost -$0.25 on the day or -2.21% during that session. The GT stock price is -104.7% off its 52-week high price of $22.66 and 12.74% above the 52-week low of $9.66. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.45 million shares traded. The 3-month trading volume is 4.32 million shares.

The Goodyear Tire & Rubber Company (NASDAQ:GT) trade information

Sporting -2.21% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the GT stock price touched $11.07 or saw a rise of 5.63%. Year-to-date, The Goodyear Tire & Rubber Company shares have moved 11.53%, while the 5-day performance has seen it change -1.99%. Over the past 30 days, the shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) have changed 9.27%. Short interest in the company has seen 13.46 million shares shorted with days to cover at 3.73.

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Wall Street analysts have a consensus price target for the stock at $14.29, which means that the shares’ value could jump 22.53% from the levels at last check today. The projected low price target is $11.00 while the price target rests at a high of $17.00. In that case, then, we find that the latest price level in today’s session is -53.57% off the targeted high while a plunge would see the stock lose 0.63% from the levels at last check today.

The Goodyear Tire & Rubber Company (GT) estimates and forecasts

Figures show that The Goodyear Tire & Rubber Company shares have underperformed across the wider relevant industry. The company’s shares have lost -2.50% over the past 6 months, with this year growth rate of -33.01%, compared to -24.20% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -66.70% and -67.60% for the next quarter. Revenue growth from the last financial year stood is estimated to be 18.30%.

6 analysts offering their estimates for the company have set an average revenue estimate of $5.22 billion for the current quarter. 2 have an estimated revenue figure of $5.09 billion for the next quarter concluding in Mar 2023. Year-ago sales stood $5.05 billion and $4.91 billion respectively for this quarter and the next, and analysts expect sales will grow by 3.30% for the current quarter and 3.80% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -9.40% over the past 5 years. Earnings growth for 2023 is a modest 154.00% while over the next 5 years, the company’s earnings are expected to increase by 9.13%.

GT Dividends

The Goodyear Tire & Rubber Company is expected to release its next earnings report between February 09 and February 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

The Goodyear Tire & Rubber Company (NASDAQ:GT)’s Major holders

Insiders own 0.41% of the company shares, while shares held by institutions stand at 82.04% with a share float percentage of 82.38%. Investors are also buoyed by the number of investors in a company, with The Goodyear Tire & Rubber Company having a total of 521 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 32.45 million shares worth more than $360.4 million. As of Sep 29, 2022, Blackrock Inc. held 11.47% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 28.22 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $313.39 million and represent 9.98% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. As of Dec 30, 2022, the former fund manager holds about 3.09% shares in the company for having 8.73 million shares of worth $96.97 million while later fund manager owns 8.45 million shares of worth $93.82 million as of Sep 29, 2022, which makes it owner of about 2.99% of company’s outstanding stock.

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