The Goodyear Tire & Rubber Company (GT) Is A Stock You Should Watch


As of Friday close, The Goodyear Tire & Rubber Company’s (NASDAQ:GT) stock was down -$0.36, moving down -3.45 percent to $10.07. The average number of shares traded per day over the past five days has been 6,274,720 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.81 fall in that time frame. In the last twenty days, the average volume was 4,592,350, while in the previous 50 days, it was 4,431,798.

Since last month, GT stock retreated -14.81%. Shares of the company fell to $9.96 on 03/15/23, the lowest level in the past month. A 52-week high of $15.69 was reached on 02/02/23 after having rallying from a 52-week low of $9.66. Since the beginning of this year, GT’s stock price has dropped by -0.79% or -$0.08, and marked a new high 9 times. However, the stock has declined by -35.82% since its 52-week high.

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Valuation Metrics

Right now, The Goodyear Tire & Rubber Company (GT) has a P/E ratio of about 14.32. The stock’s beta is 1.81. Besides these, the trailing price-to-sales (P/S) ratio of 0.14, the price-to-book (PB) ratio of 0.54.

The latest dividend of $0.16 per share was paid out, remained unchanged from last year’s $0.16.

Financial Health

In the three months ended December 30, The Goodyear Tire & Rubber Company’s quick ratio stood at 0.60, while its current ratio was 1.20, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending December 30 was 1.37, and the total debt-to-equity ratio was 1.49. On the profitability front, the trailing twelve-month gross margin is 18.50% percent. In the year ended December 30, operating margins totaled 3.40%. Based on annual data, GT earned $3.85 billion in gross profit and brought in $20.8 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 3.90%. Return on equity (ROE) for the past 12 months was 3.90%.

In The Goodyear Tire & Rubber Company’s quarter-end financial report for December 30, it reported total debt of $7.27 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. GT’s revenue rose 5.95% to $5.31 billion during the quarter, while net income inched up to $5.37 billion. While analysts expected The Goodyear Tire & Rubber Company to report $0.06 quarterly earnings, the actual figure was $0.07 per share, beating the consensus estimate by 16.70%. During the quarter, the company generated $417.0 million in EBITDA. The liabilities of The Goodyear Tire & Rubber Company were 16.96 billion at the end of its most recent quarter ended December 30, and its total debt was $8.91 billion. The value of shareholders’ equity is $283.01 million.

Technical Picture

This quick technical analysis looks at The Goodyear Tire & Rubber Company’s (GT) price momentum. With a historical volatility rate of 38.14%, the RSI 9-day stood at 29.70% on 17 March.

With respect to its five-day moving average, the current The Goodyear Tire & Rubber Company price is down by -7.44% percent or -$0.81. At present, GT shares trade -13.93% below its 20-day simple moving average and -12.51% percent below its 100-day simple moving average. However, the stock is currently trading approximately -4.46% below its SMA50 and -22.06% below its SMA200.

Stochastic coefficient K was 13.98% and Stochastic coefficient D was 15.30%, while ATR was 0.44. Given the Stochastic reading of 5.37% for the 14-day period, the RSI (14) reading has been calculated as 34.79%. As of today, the MACD Oscillator reading stands at -0.52, while the 14-day reading stands at -0.82.

Analyst Ratings

The Goodyear Tire & Rubber Company downgraded its rating on The Goodyear Tire & Rubber Company (NASDAQ: GT) to an Underperform in a note to investors on January 30, 2023. The analysts firm previously had a Neutral rating on the stock.The Goodyear Tire & Rubber Company (GT) has been rated Overweight by analysts. According to 1 brokerage firm, GT is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate The Goodyear Tire & Rubber Company stock as buy, with 4 recommending it as overweight.

With a median target price of $13.00, the current consensus forecast for the stock is $9.00 – $17.00. Based on these forecasts, analysts predict The Goodyear Tire & Rubber Company (GT) will achieve an average price target of $13.29.


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