Goodyear Tire & Rubber Co. (NASDAQ:GT) shares, rose in value, with the stock price down by -1.45% to the previous day’s close as strong demand from buyers drove the stock to $12.95.
Actively observing the price movement in the last trading, the stock closed the session at $13.14. The value of beta (5-year monthly) was 1.85. Referring to stock’s 52-week performance, its high was $16.50, and the low was $10.12. On the whole, GT has fluctuated by 7.38% over the past month.
With the market capitalization of Goodyear Tire & Rubber Co. currently standing at about $3.68 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0, which is expected to increase to $0.27 for fiscal year $1.27 and then to about $1.9 by fiscal year 2025. Data indicates that the EPS growth is expected to be 504.80% in 2025, while the next year’s EPS growth is forecast to be 49.60%.
Analysts have estimated the company’s revenue for the quarter at $4.82 billion, with a low estimate of $4.63 billion and a high estimate of $5.03 billion. According to the average forecast, sales growth in current quarter could jump down -2.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $19.92 billion, representing a decrease of -0.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that GT’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GT currently trading nearly 0.12% and 0.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.53, while the 7-day volatility ratio is showing 2.77% which for the 30-day chart, stands at 2.78%. Furthermore, Goodyear Tire & Rubber Co. (GT)’s beta value is 1.85, and its average true range (ATR) is 0.37.
A comparison of Goodyear Tire & Rubber Co. (GT) with its peers suggests the former has fared considerably weaker in the market. GT showed an intraday change of -1.45% in last session, and over the past year, it grew by 22.75%%.
Data on historical trading for Goodyear Tire & Rubber Co. (NASDAQ:GT) indicates that the trading volumes over the past 10 days have averaged 2.3 million and over the past 3 months, they’ve averaged 3.99 million. According to company’s latest data on outstanding shares, there are 283.79 million shares outstanding.
Nearly 0.75% of Goodyear Tire & Rubber Co.’s shares belong to company insiders and institutional investors own 85.07% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 16.92 million shares as on Mar 15, 2024, resulting in a short ratio of 4.71. According to the data, the short interest in Goodyear Tire & Rubber Co. (GT) stood at 5.95% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 14.18 million. The stock has fallen by -9.57% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GT stock heading into the next quarter.
