Goodyear Tire & Rubber (GT) Downgraded by Longbow Research

Longbow Research cut shares of Goodyear Tire & Rubber (NASDAQ:GT) from a neutral rating to an underperform rating in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $14.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group set a $26.00 price objective on Goodyear Tire & Rubber and gave the company a buy rating in a research report on Tuesday, December 4th. Zacks Investment Research cut shares of Goodyear Tire & Rubber from a buy rating to a hold rating in a report on Thursday, January 17th. Morgan Stanley decreased their target price on shares of Goodyear Tire & Rubber from $23.00 to $22.00 and set a hold rating on the stock in a research report on Wednesday, November 14th. ValuEngine lowered shares of Goodyear Tire & Rubber from a sell rating to a strong sell rating in a report on Friday, February 8th. Finally, BidaskClub raised shares of Goodyear Tire & Rubber from a strong sell rating to a sell rating in a research report on Tuesday, October 30th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $23.56.

Goodyear Tire & Rubber stock opened at $18.63 on Monday. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 8.03, a P/E/G ratio of -1.48 and a beta of 1.60. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.76 and a current ratio of 1.34. Goodyear Tire & Rubber has a 52 week low of $17.88 and a 52 week high of $30.07.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Friday, February 8th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.09). Goodyear Tire & Rubber had a return on equity of 11.24% and a net margin of 4.48%. The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the previous year, the company posted $0.99 earnings per share. Goodyear Tire & Rubber’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, research analysts forecast that Goodyear Tire & Rubber will post 2.57 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 1st will be issued a dividend of $0.16 per share. This is an increase from Goodyear Tire & Rubber’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Thursday, January 31st. Goodyear Tire & Rubber’s dividend payout ratio is currently 27.59%.

Large investors have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $35,000. Captrust Financial Advisors purchased a new position in Goodyear Tire & Rubber during the 4th quarter worth $43,000. Fort L.P. acquired a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $85,000. Dupont Capital Management Corp raised its stake in shares of Goodyear Tire & Rubber by 44.8% during the 4th quarter. Dupont Capital Management Corp now owns 4,313 shares of the company’s stock valued at $88,000 after buying an additional 1,335 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in Goodyear Tire & Rubber by 35.7% during the 4th quarter. IFP Advisors Inc now owns 5,315 shares of the company’s stock worth $108,000 after buying an additional 1,397 shares in the last quarter. 89.49% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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Analyst Recommendations for Goodyear Tire & Rubber (NASDAQ:GT)

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