As of Thursday close, The Goodyear Tire & Rubber Company’s (NASDAQ:GT) stock was down -$0.19, moving down -1.50 percent to $12.47. The average number of shares traded per day over the past five days has been 2,719,560 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.63 fall in that time frame. In the last twenty days, the average volume was 5,446,940, while in the previous 50 days, it was 4,766,986.
Since last month, GT stock retreated -20.98%. Shares of the company fell to $12.18 on 08/03/23, the lowest level in the past month. A 52-week high of $16.50 was reached on 07/27/23 after having rallying from a 52-week low of $9.66. Since the beginning of this year, GT’s stock price has risen by 22.86% or $2.32, and marked a new high 16 times. However, the stock has declined by -24.45% since its 52-week high.
Valuation Metrics
The stock’s beta is 1.82. Besides these, the trailing price-to-sales (P/S) ratio of 0.17, the price-to-book (PB) ratio of 0.70.
The latest dividend of $0.16 per share was paid out, remained unchanged from last year’s $0.16. On Tuesday January 15 2019, a $0.02 dividend increase was announced.
Financial Health
In the three months ended June 29, The Goodyear Tire & Rubber Company’s quick ratio stood at 0.60, while its current ratio was 1.30, 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 June 29 was 1.57, and the total debt-to-equity ratio was 1.73. On the profitability front, the trailing twelve-month gross margin is 16.40% percent. In the year ended June 29, EBITDA margin amounted to 9.20%, whereas operating margins totaled 0.60%. 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 -7.10%.
In The Goodyear Tire & Rubber Company’s quarter-end financial report for June 29, it reported total debt of $8.03 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. GT’s revenue fell -7.09% to $4.94 billion during the quarter, while net income inched up to $4.87 billion. While analysts expected The Goodyear Tire & Rubber Company to report $0.16 quarterly earnings, the actual figure was -$0.34 per share, beating the consensus estimate by -312.50%. During the quarter, the company generated $296.0 million in EBITDA. The liabilities of The Goodyear Tire & Rubber Company were 17.54 billion at the end of its most recent quarter ended June 29, and its total debt was $9.83 billion. The value of shareholders’ equity is $283.48 million.
Technical Picture
This quick technical analysis looks at The Goodyear Tire & Rubber Company’s (GT) price momentum. With a historical volatility rate of 34.16%, the RSI 9-day stood at 28.56% on 17 August.
With respect to its five-day moving average, the current The Goodyear Tire & Rubber Company price is down by -4.81% percent or -$0.63. At present, GT shares trade -21.87% below its 20-day simple moving average and +23.47% percent above its 100-day simple moving average. However, the stock is currently trading approximately -7.97% below its SMA50 and -0.40% below its SMA200.
Stochastic coefficient K was 11.87% and Stochastic coefficient D was 15.60%, while ATR was 0.54. Given the Stochastic reading of 7.31% for the 14-day period, the RSI (14) reading has been calculated as 34.13%. As of today, the MACD Oscillator reading stands at -0.21, while the 14-day reading stands at -0.88.
Analyst Ratings
The Goodyear Tire & Rubber Company downgraded its rating on The Goodyear Tire & Rubber Company (NASDAQ: GT) to a Neutral in a note to investors on May 17, 2023. The analysts firm previously had a Buy rating on the stock.The Goodyear Tire & Rubber Company (GT) has been rated Overweight by analysts. According to 0 brokerage firms, GT is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate The Goodyear Tire & Rubber Company stock as buy, with 3 recommending it as overweight.
With a median target price of $14.00, the current consensus forecast for the stock is $12.00 – $17.00. Based on these forecasts, analysts predict The Goodyear Tire & Rubber Company (GT) will achieve an average price target of $14.33.
