Will Goodyear Tire & Rubber Co (GT) Future Potential Be Hindered By Price Volatility?

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Goodyear Tire & Rubber Co (NASDAQ:GT) has a beta value of 1.70 and has seen 3.17 million shares traded in the recent trading session. The company, currently valued at $2.43B, closed the recent trade at $8.54 per share which meant it gained $0.42 on the day or 5.11% during that session. The GT stock price is -78.45% off its 52-week high price of $15.24 and 14.87% above the 52-week low of $7.27. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.26 million shares traded. The 3-month trading volume is 5.66 million shares.

The consensus among analysts is that Goodyear Tire & Rubber Co (GT) is Hold stock at the moment, with a recommendation rating of 2.33. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 5 have rated it as a Hold, with 1 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.45.

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

Sporting 5.11% in the green today, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the GT stock price touched $8.54 or saw a rise of 0.58%. Year-to-date, Goodyear Tire & Rubber Co shares have moved -40.40%, while the 5-day performance has seen it change 1.25%. Over the past 30 days, the shares of Goodyear Tire & Rubber Co (NASDAQ:GT) have changed 3.08%. Short interest in the company has seen 23.6 million shares shorted with days to cover at 4.31.

Wall Street analysts have a consensus price target for the stock at $15, which means that the shares’ value could jump 43.07% from the levels at last check today.. The projected low price target is $14.0 while the price target rests at a high of $19.0. In that case, then, we find that the latest price level in today’s session is -122.48% off the targeted high while a plunge would see the stock gain -63.93% from the levels at last check today..

Goodyear Tire & Rubber Co (GT) estimates and forecasts

Figures show that Goodyear Tire & Rubber Co shares have outperformed across the wider relevant industry. The company’s shares have lost -31.28% over the past 6 months, with this year growth rate of 404.76%, compared to 25.80% for the industry. Revenue growth from the last financial year stood is estimated to be -4.20%.

4 analysts offering their estimates for the company have set an average revenue estimate of 5.01B for the current quarter. 3 have an estimated revenue figure of 4.61B for the next ending quarter. Year-ago sales stood 5.12B and 4.82B respectively for this quarter and the next, and analysts expect sales will shrink by -2.00% for the current quarter and -4.20% for the next.

GT Dividends

Goodyear Tire & Rubber Co is expected to release its next earnings report on 2025-Feb-10 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

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

Insiders own 7.69% of the company shares, while shares held by institutions stand at 90.32% with a share float percentage of 97.84%. Investors are also buoyed by the number of investors in a company, with Goodyear Tire & Rubber Co having a total of 505.0 institutions that hold shares in the company. The top two institutional holders are BLACKROCK INC. with over 35.21 million shares worth more than $399.65 million. As of 2024-06-30, BLACKROCK INC. held 12.3116% of shares outstanding.

The other major institutional holder is VANGUARD GROUP INC, with the holding of over 29.71 million shares as of 2024-06-30. The firm’s total holdings are worth over $337.26 million and represent 10.3898% of shares outstanding.