Update from The Goodyear Tire & Rubber Company (GT): A steady trajectory

The Goodyear Tire & Rubber Company (NASDAQ: GT) closed the day trading at 12.04 down -3.60% from the previous closing price of $12.49. In other words, the price has decreased by $-0.45 from its previous closing price. On the day, 4918996 shares were traded. GT reached its highest trading level at $12.83 during the session, while it also had its lowest trading level at $12.02.

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For a better understanding of GT, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 0.70 and its Current Ratio is at 1.30. In the meantime, Its Debt-to-Equity ratio is 1.62 whereas as Long-Term Debt/Eq ratio is at 1.46.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Deutsche Bank on July 18, 2022, Downgraded its rating to Hold and sets its target price to $15 from $19 previously.

On May 10, 2022, Nomura Upgraded its rating to Buy which previously was Neutral and also upped its target price recommendation from $15 to $15.30.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Dec 08 when KRAMER RICHARD J sold 175,197 shares for $22.33 per share. The transaction valued at 3,912,149 led to the insider holds 483,953 shares of the business.

McClellan Stephen R sold 54,302 shares of GT for $1,188,128 on Nov 19. The President, Americas now owns 109,721 shares after completing the transaction at $21.88 per share. On Nov 10, another insider, McClellan Stephen R, who serves as the President, Americas of the company, sold 36,177 shares for $23.36 each. As a result, the insider received 845,095 and left with 109,721 shares of the company.

Valuation Measures:

As of this moment, The’s Price-to-Earnings (P/E) ratio for their current fiscal year is 3.63, and their Forward P/E ratio for the next fiscal year is 4.54. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.40. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.17 while its Price-to-Book (P/B) ratio in mrq is 0.66.

Stock Price History:

Over the past 52 weeks, GT has reached a high of $24.89, while it has fallen to a 52-week low of $10.33. The 50-Day Moving Average of the stock is 13.19, while the 200-Day Moving Average is calculated to be 15.11.

Shares Statistics:

Over the past 3-months, GT traded about 4.04M shares per day on average, while over the past 10 days, GT traded about 3.71M shares per day. A total of 284.00M shares are outstanding, with a floating share count of 281.64M. Insiders hold about 0.41% of the company’s shares, while institutions hold 83.50% stake in the company. Shares short for GT as of Jul 14, 2022 were 13.72M with a Short Ratio of 3.41, compared to 16.07M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 4.86% and a Short% of Float of 5.53%.

Dividends & Splits

The current Payout Ratio is 0.00% for GT, which recently paid a dividend on Mar 01, 2020 with an ex-dividend date of Jan 30, 2020. Stock splits for the company last occurred on May 04, 1993 when the company split stock in a 2:1 ratio.

Earnings Estimates

Current recommendations for the stock of the company come from 6 analysts. On average, analysts expect EPS of $0.34 for the current quarter, with a high estimate of $0.43 and a low estimate of $0.18, while EPS last year was $0.32. The consensus estimate for the next quarter is $0.46, with high estimates of $0.66 and low estimates of $0.23.

Analysts are recommending an EPS of between $2.26 and $1.32 for the fiscal current year, implying an average EPS of $1.85. EPS for the following year is $2.65, with 9 analysts recommending between $3.64 and $1.95.

Revenue Estimates

5 analysts predict $4.98B in revenue for the current quarter. It ranges from a high estimate of $5.18B to a low estimate of $4.71B. As of the current estimate, The Goodyear Tire & Rubber Company’s year-ago sales were $3.98B, an estimated increase of 25.10% from the year-ago figure. For the next quarter, 5 analysts are estimating revenue of $5.28B, an increase of 11.20% less than the figure of $25.10% in the same quarter last year. There is a high estimate of $5.47B for the next quarter, whereas the lowest estimate is $5.02B.

A total of 8 analysts have provided revenue estimates for GT’s current fiscal year. The highest revenue estimate was $21.62B, while the lowest revenue estimate was $19.89B, resulting in an average revenue estimate of $20.66B. In the same quarter a year ago, actual revenue was $17.48B, up 18.20% from the average estimate. Based on 8 analysts’ estimates, the company’s revenue will be $21.83B in the next fiscal year. The high estimate is $23.26B and the low estimate is $20.36B. The average revenue growth estimate for next year is up 5.70% from the average revenue estimate for this year.