Goodyear Tire & Rubber Co (NASDAQ:GT) price on current trading day, fall -1.57% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $9.39.
A look at the stock’s price movement, the close in the last trading session was $9.54. The PE ratio in trailing twelve months stood at 38.91. Turning to its 52-week performance, $13.86 and $7.27 were the 52-week high and 52-week low respectively. Overall, GT moved 2.62% over the past month.
Goodyear Tire & Rubber Co’s market cap currently stands at around $2.68 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 4.41B for the company’s revenue for the quarter, with a low and high estimate of 4.31B and 4.53B respectively. The average forecast suggests down to a -2.84% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 18.45B, representing a -2.27% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that GT is a 50% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 1 recommend GT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 1.65, with GT’s current price about 2.65% and 3.16% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 51.34, while 7-day volatility ratio is 4.67% and 4.32% in the 30-day chart. Further, Goodyear Tire & Rubber Co (GT) has a beta value of 1.71, and an average true range (ATR) of 0.45. Analysts have given the company’s stock an average 52-week price target of $15, forecast between a low of $14 and high of $19. Looking at the price targets, the low is -49.09% off current price level while to achieve the yearly target high, price needs to move -102.34%. Nonetheless, investors will most likely welcome a -59.74% jump to $15 which is the analysts’ median price.
If we refocus on Goodyear Tire & Rubber Co (NASDAQ:GT), historical trading data shows that trading volumes averaged 5.24 million over the past 3 months. The company’s latest data on shares outstanding shows there are 284.97 million shares.
The 9.54% of Goodyear Tire & Rubber Co’s shares are in the hands of company insiders while institutional holders own 85.64% of the company’s shares. Current price change has pushed the stock 4.33% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the GT stock continues to rise going into the next quarter.
