The Goodyear Tire & Rubber Company (NASDAQ:GT) finished Thursday with a subtraction of -$0.27 to close at $13.10, a downside of -2.02 percent. An average of 6,209,500 shares of common stock have been traded in the last five days. There was a fall of -$0.10 in the past week, and it reached a new high 9 times over the past 12 months. The last 20 days have seen an average of 5,621,440 shares traded, while the 50-day average volume stands at 4,936,160.
GT stock has decreased by -11.49% in the last month. The company shares reached their 1-month lowest point of $12.18 on 08/03/23. With the stock rallying to its 52-week high on 07/27/23, shares of the company touched a low of $9.66 and a high of $16.50 in 52 weeks. It has reached a new high 16 times so far this year and achieved 29.06% or $2.95 in price. In spite of this, the price is down -20.63% from the 52-week high.
Valuation Metrics
The Goodyear Tire & Rubber Company (GT) has a trailing price-to-earnings (P/E) ratio of 935.71. The stock’s beta is 1.81. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.18, the price-to-book (PB) ratio at 0.73.
Financial Health
The quick ratio of The Goodyear Tire & Rubber Company for the three months ended June 29 was 0.60, and the current ratio was 1.30, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.57 and a total debt to equity ratio of 1.73 for the quarter ending June 29. The Goodyear Tire & Rubber Company’s EBITDA margin for the year ending June 29 is 9.20%. Its gross profit as reported stood at $3.85 billion compared to revenue of $20.8 billion.
Earnings Surprise
For the three-month period that ended June 29, The Goodyear Tire & Rubber Company had $8.03 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$208.0 million in the quarter, while revenues were grew 179.81%. The analyst consensus anticipated The Goodyear Tire & Rubber Company’s latest quarter earnings to come in at $0.16 per share, but it turned out to be -$0.34, a -312.50% surprise. For the quarter, EBITDA amounted to $296.0 million. Shareholders own equity worth $283.48 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at The Goodyear Tire & Rubber Company (GT) price momentum. RSI 9-day as of the close on 10 August was 34.12%, suggesting the stock is Neutral, with historical volatility in this time frame at 91.36%.
As of today, GT’s price is $12.93 -0.80% or -$0.10 from its 5-day moving average. GT is currently trading -15.27% lower than its 20-day SMA and +30.09% higher than its 100-day SMA. However, the stock’s current price level is -8.07% below the SMA50 and +13.81% above the SMA200.
The stochastic %K and %D were 21.52% and 17.10%, respectively, and the average true range (ATR) was 0.72. With the 14-day stochastic at 21.36% and the average true range at 0.67, the RSI (14) stands at 38.38%. The stock has reached -0.86 on the 9-day MACD Oscillator while the 14-day reading was at -1.55.
Analyst Ratings
Nomura downgraded The Goodyear Tire & Rubber Company (NASDAQ: GT) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for The Goodyear Tire & Rubber Company (GT) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell GT, while 6 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is GT’s price target for the next 12 months?
Analysts predict a range of price targets between $12.00 and $17.00, with a median target of $15.00. Taking a look at these predictions, the average price target given by analysts for The Goodyear Tire & Rubber Company (GT) stock is $14.83.
