Trading Report: Today, The Goodyear Tire & Rubber Co. (GT) Sees Large Growth in Short Interest

Today, The Goodyear Tire & Rubber Co. (GT) Sees Large Growth in Short Interest

The Goodyear Tire & Rubber Co. (NASDAQ:GT) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 22,972,784 shares, an increase of 16.3% from the October 31st total of 19,758,924 shares. Based on an average daily volume of 3,995,513 shares, the days-to-cover ratio is presently 5.7 days. Approximately 8.9% of the company’s shares are short sold.

Shares of The Goodyear Tire & Rubber Co. (NASDAQ:GT) opened at 31.16 on Friday. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 26.03 and a beta of 1.33. The Goodyear Tire & Rubber Co. has a 52 week low of $24.31 and a 52 week high of $35.30. The firm has a 50-day moving average of $30.35 and a 200 day moving average of $28.99.

The Goodyear Tire & Rubber Co. (NASDAQ:GT) last posted its quarterly earnings data on Friday, October 28th. The company reported $1.17 EPS for the quarter, beating the Zacks’ 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 company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period in the prior year, the firm posted $0.99 EPS. The company’s quarterly revenue was down 8.1% on a year-over-year basis. On average, equities analysts predict that The Goodyear Tire & Rubber Co. will post $3.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 1st will be paid a $0.10 dividend. This is a positive change from The Goodyear Tire & Rubber Co.’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, October 28th. The Goodyear Tire & Rubber Co.’s dividend payout ratio is currently 33.33%.

A number of equities research analysts recently commented on the stock. Goldman Sachs Group Inc. restated a “buy” rating and set a $35.00 price objective on shares of The Goodyear Tire & Rubber Co. in a report on Saturday, October 8th. Morgan Stanley set a $24.00 price objective on shares of The Goodyear Tire & Rubber Co. and gave the stock a “sell” rating in a report on Thursday. Berenberg Bank assumed coverage on shares of The Goodyear Tire & Rubber Co. in a report on Tuesday, November 22nd. They set a “buy” rating and a $36.00 price objective on the stock. raised their price objective on shares of The Goodyear Tire & Rubber Co. from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, September 16th. Finally, Deutsche Bank AG upgraded shares of The Goodyear Tire & Rubber Co. from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Tuesday, September 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $34.04.

Several 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 in 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 in 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 in the last quarter. TradeLink Capital LLC raised its stake in The Goodyear Tire & Rubber Co. by 4.6% in the second quarter. TradeLink Capital LLC now owns 7,833 shares of the company’s stock worth $201,000 after buying an additional 343 shares in the last quarter. Finally, Telemus Capital LLC purchased a new stake in The Goodyear Tire & Rubber Co. during the second quarter worth approximately $207,000. 90.58% of the stock is currently owned by institutional investors.

About The Goodyear Tire & Rubber Co.

Related posts

Leave a Comment