Goodyear Tire & Rubber Co. (NASDAQ: GT) Lose -12.69%, Marking A Loss For Bears.

In the latest trading session, 5.43 million Goodyear Tire & Rubber Co. (NASDAQ:GT) shares changed hands as the company’s beta touched 1.88. With the company’s most recent per share price at $11.90 changed hands at -$1.73 or -12.69% at last look, the market valuation stands at $3.37B. GT’s current price is a discount, trading about -38.66% off its 52-week high of $16.50. The share price had its 52-week low at $9.85, which suggests the last value was 17.23% up since then. When we look at Goodyear Tire & Rubber Co.’s average trading volume, we note the 10-day average is 4.87 million shares, with the 3-month average coming to 7.31.

Goodyear Tire & Rubber Co. (NASDAQ:GT) trade information

Instantly GT was in red as seen in intraday trades today. With action -14.20%, the performance over the past five days has been red. The drop to weekly highs of 14.00 subtracted -12.69% to the stock’s daily price. The company’s shares are showing year-to-date downside of -16.90%, with the 5-day performance at -14.20% in the red. However, in the 30-day time frame, Goodyear Tire & Rubber Co. (NASDAQ:GT) is -9.85% down. Looking at the short shares, we see there were 13.97 million shares sold at short interest cover period of 4.02 days.

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Goodyear Tire & Rubber Co. (GT) estimates and forecasts

Data shows that the Goodyear Tire & Rubber Co. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -9.02% over the past 6 months, a 652.38% in annual growth rate that is considerably higher than the industry average of 3.70%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Goodyear Tire & Rubber Co. will rise 414.30%, while the growth in revenue is estimated to hit 186.20% for the next quarter. Year-over-year growth is forecast to reach -2.00% down from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $5.39 billion. 3 analysts are of the opinion that Goodyear Tire & Rubber Co.’s revenue for the quarter ending Mar 2024 will be $5.19 billion. The company’s revenue for the corresponding quarters a year ago was $5.37 billion and $4.94 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 0.30%. The estimates for the next quarter sales put growth at 5.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -12.38%. The 2024 estimates are for Goodyear Tire & Rubber Co. earnings to increase by 591.59%, but the outlook for the next 5-year period is at 26.30% per year.

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