Goodyear Tire & Rubber Co. (NASDAQ: GT) is -11.66% lower on its value in year-to-date trading and has touched a low of $9.85 and a high of $16.50 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GT stock was last observed hovering at around $12.57 in the last trading session, with the day’s gains setting it 0.08%.
Currently trading at $12.65, the stock is 4.09% and -3.97% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.18 million and changing 0.64% at the moment leaves the stock -5.46% off its SMA200. GT registered 16.27% gain for a year compared to 6-month gain of 2.35%. The firm has a 50-day simple moving average (SMA 50) of $0.57 and a 200-day simple moving average (SMA200) of $13.25.
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The stock witnessed a -6.02% loss in the last 1 month and extending the period to 3 months gives it a -9.45%, and is 6.66% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.24% over the week and 3.54% over the month.
Goodyear Tire & Rubber Co. (GT) has around 71000 employees, a market worth around $3.59B and $20.07B in sales. Fwd P/E is 6.55. Profit margin for the company is -3.43%. Distance from 52-week low is 28.36% and -23.36% from its 52-week high. The company has generated returns on investments over the last 12 months (-5.59%).
Goodyear Tire & Rubber Co. quarterly earnings per share for the current quarter are estimated at $0 with sales reaching $4.85B over the same period.The EPS is expected to grow by 513.07% this year, but quarterly earnings will post -0.10% year-over-year. Quarterly sales are estimated to shrink -1.80% in year-over-year returns.
Goodyear Tire & Rubber Co. (GT) Top Institutional Holders
496 institutions hold shares in Goodyear Tire & Rubber Co. (GT), with institutional investors hold 86.60% of the company’s shares. The shares outstanding are 283.79M, and float is at 281.93M with Short Float at 5.70%. Institutions hold 86.02% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 33.57 million shares valued at $459.25 million. The investor’s holdings represent 11.84% of the GT Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 28.46 million shares valued at $389.34 million to account for 10.04% of the shares outstanding. The other top investors are Dimensional Fund Advisors LP which holds 15.5 million shares representing 5.47% and valued at over $212.05 million, while Nomura Holdings Inc. holds 3.70% of the shares totaling 10.48 million with a market value of $143.36 million.
Goodyear Tire & Rubber Co. (GT) Insider Activity
The most recent transaction is an insider sale by WELLS DARREN R,the company’sEVP & Chief Admin. Officer. SEC filings show that WELLS DARREN R sold 8,509 shares of the company’s common stock on Feb 28 ’24 at a price of $11.82 per share for a total of $0.1 million. Following the sale, the insider now owns 0.15 million shares.
Goodyear Tire & Rubber Co. disclosed in a document filed with the SEC on Feb 27 ’24 that WELLS DARREN R (EVP & Chief Admin. Officer) sold a total of 237 shares of the company’s common stock. The trade occurred on Feb 27 ’24 and was made at $12.01 per share for $2845.0. Following the transaction, the insider now directly holds 0.15 million shares of the GT stock.
Still, SEC filings show that on Feb 20 ’24, WELLS DARREN R (EVP & Chief Admin. Officer) disposed off 10,574 shares at an average price of $12.39 for $0.13 million. The insider now directly holds 122,158 shares of Goodyear Tire & Rubber Co. (GT).
