Stock analysts at Jefferies Group initiated coverage on shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) in a research report issued on Tuesday. The firm set a “buy” rating and a $36.50 price target on the stock. Jefferies Group’s price target points to a potential upside of 18.78% from the company’s current price.

GT has been the topic of several other reports. Deutsche Bank AG raised shares of The Goodyear Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Tuesday, September 6th. raised their target price on shares of The Goodyear Tire & Rubber Co. from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Friday, September 16th. Berenberg Bank assumed coverage on shares of The Goodyear Tire & Rubber Co. in a report on Tuesday, November 22nd. They issued a “buy” rating and a $36.00 target price on the stock. Morgan Stanley reissued an “underperform” rating on shares of The Goodyear Tire & Rubber Co. in a report on Tuesday, November 22nd. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and issued a $35.00 target price on shares of The Goodyear Tire & Rubber Co. in a report on Saturday, October 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $34.26.

Analyst Recommendations for The Goodyear Tire & Rubber Co. (NASDAQ:GT)

The Goodyear Tire & Rubber Co. (NASDAQ:GT) opened at 30.69 on Tuesday. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 25.64 and a beta of 1.33. The Goodyear Tire & Rubber Co. has a one year low of $24.31 and a one year high of $35.30. The company has a 50-day moving average of $30.29 and a 200 day moving average of $29.02.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) last issued its quarterly earnings data on Friday, October 28th. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. The Goodyear Tire & Rubber Co. had a net margin of 2.09% and a return on equity of 24.47%. The business earned $3.80 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the company earned $0.99 EPS. The business’s revenue was down 8.1% on a year-over-year basis. On average, analysts anticipate that The Goodyear Tire & Rubber Co. will post $3.95 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.30%. This is a positive change from The Goodyear Tire & Rubber Co.’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, October 28th. The Goodyear Tire & Rubber Co.’s payout ratio is presently 33.33%.

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A number of large investors have recently bought and sold shares of GT. Whittier Trust Co. raised its stake in The Goodyear Tire & Rubber Co. by 43.3% in the second quarter. Whittier Trust Co. now owns 4,935 shares of the company’s stock worth $127,000 after buying an additional 1,491 shares during the last quarter. Pacer Advisors Inc. raised its stake in The Goodyear Tire & Rubber Co. by 9.9% in the second quarter. Pacer Advisors Inc. now owns 5,323 shares of the company’s stock worth $137,000 after buying an additional 479 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in The Goodyear Tire & Rubber Co. by 9.3% in the second quarter. Daiwa Securities Group Inc. now owns 6,450 shares of the company’s stock worth $166,000 after buying an additional 550 shares during the last quarter. Coastline Trust Co acquired a new stake in The Goodyear Tire & Rubber Co. during the third quarter worth $211,000. Finally, Profund Advisors LLC acquired a new stake in The Goodyear Tire & Rubber Co. during the third quarter worth $216,000. 92.12% of the stock is currently owned by hedge funds and other institutional investors.

The Goodyear Tire & Rubber Co. Company Profile

The Goodyear Tire & Rubber Company is engaged in developing, manufacturing, marketing and distributing tires for various applications. It also manufactures and markets rubber-related chemicals for various applications. The Company’s Americas business comprises businesses of North America and Latin America.

5 Day Chart for NASDAQ:GT

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