The Goodyear Tire & Rubber Company (NASDAQ: GT) stock fell -2.20% on Tuesday to $13.76 against a previous-day closing price of $14.07. With 3.5 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.2 million shares. During the session, the Auto Parts company that operates in wider Consumer Cyclical sector, reached to the highest price of $14.18 whereas the lowest price it dropped to was $13.73. The 52-week range on GT shows that it touched its highest point at $15.69 and its lowest point at $9.66 during that stretch. It currently has a 1-year price target of $14.40. Beta for the stock currently stands at 1.75.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GT was down-trending over the past week, with a drop of -5.82%, but this was up by 29.08% over a month. Three-month performance surged to 21.77% while six-month performance rose 24.86%. The stock gained 22.09% in the past year, while it has gained 35.57% so far this year. A look at the trailing 12-month EPS for GT yields 0.01 with Next year EPS estimates of 1.73. For the next quarter, that number is 0.20. This implies an EPS growth rate of -75.60% for this year and 71.92% for next year. EPS is expected to grow by 9.24% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -22.60%.
Float and Shares Shorts:
At present, 285.00 million GT shares are outstanding with a float of 281.70 million shares on hand for trading. On Apr 27, 2023, short shares totaled 12.3 million, which was 4.35% higher than short shares on Mar 30, 2023. In addition to Mr. Richard J. Kramer as the firm’s CEO, Pres & Chairman, Mr. Darren R. Wells serves as its Exec. VP & Chief Admin. Officer.
Institutional Ownership:
Through their ownership of 81.90% of GT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 42.96% of GT, in contrast to 38.10% held by mutual funds. Shares owned by individuals account for 1.24%. As the largest shareholder in GT with 10.58% of the stake, BlackRock Fund Advisors holds 29,944,553 shares worth 29,944,553. A second-largest stockholder of GT, The Vanguard Group, Inc., holds 28,107,220 shares, controlling over 9.93% of the firm’s shares. AllianceBernstein LP is the third largest shareholder in GT, holding 17,999,772 shares or 6.36% stake. With a 3.12% stake in GT, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 8,826,739 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.09% of GT stock, is the second-largest Mutual Fund holder. It holds 8,756,271 shares valued at 93.43 million. Vanguard Small Cap Index Fund holds 2.62% of the stake in GT, owning 7,406,693 shares worth 79.03 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, GT reported revenue of $5.21B and operating income of $323.00M. The EBITDA in the recently reported quarter was $529.00M and diluted EPS was $0.58.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GT analysts setting a high price target of $19.00 and a low target of $10.00, the average target price over the next 12 months is $14.43. Based on these targets, GT could surge 38.08% to reach the target high and fall by -27.33% to reach the target low. Reaching the average price target will result in a growth of 4.87% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, GT has a dividend of $0.5 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and GT currently yields $0.90. In the past year, GT’s dividend yield has been $0.90, but when looking at the stock over the past five years, its yield has been $3.27. Accordingly, GT has a current buyback yield of $0.05. This was $0.05 for the TTM, and it was $4.35 for the past five years.
Summary of Insider Activity:
Insiders traded GT stock several times over the past three months with 6 Buys and 6 Sells. In these transactions, 232,803 shares were bought while 88,887 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 603,119 while 221,537 shares were sold.
