Goodyear Tire & Rubber Co. [GT] moved down -0.84: Why It’s Important

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Goodyear Tire & Rubber Co. [NASDAQ: GT] plunged by -$0.1 during the normal trading session on Wednesday and reaching a high of $12.07 during the day while it closed the day at $11.80. The company report on October 30, 2023 at 4:15 PM that GOODYEAR TO ANNOUNCE THIRD QUARTER 2023 FINANCIAL RESULTS.

The Goodyear Tire & Rubber Company (NASDAQ: GT) will report third quarter 2023 financial results after market close on Monday, Nov. 6, followed by an investor conference call at 8:30 a.m. EST on Tuesday, Nov. 7.

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The Company will publish its results in the form of an Investor Letter on its investor relations website: on Nov. 6. The following morning, the Company will host an investor call that will focus on questions and answers.

Goodyear Tire & Rubber Co. stock has also loss -3.52% of its value over the past 7 days. However, GT stock has declined by -10.64% in the 3 months of the year. Over the past six months meanwhile, it has gained 8.06% and gained 16.26% year-on date.

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The market cap for GT stock reached $3.35 billion, with 282.90 million shares outstanding and 281.89 million shares in the current float. Compared to the average trading volume of 3.39M shares, GT reached a trading volume of 5662173 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Goodyear Tire & Rubber Co. [GT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GT shares is $14.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GT stock is a recommendation set at 2.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Nomura have made an estimate for Goodyear Tire & Rubber Co. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 17, 2023.

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The Average True Range (ATR) for Goodyear Tire & Rubber Co. is set at 0.46, with the Price to Sales ratio for GT stock in the period of the last 12 months amounting to 0.16. The Price to Book ratio for the last quarter was 0.65, with the Price to Cash per share for the same quarter was set at 3.92.

GT stock trade performance evaluation

Goodyear Tire & Rubber Co. [GT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.52. With this latest performance, GT shares dropped by -3.99% in over the last four-week period, additionally plugging by 8.06% over the last 6 months – not to mention a drop of -7.09% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GT stock in for the last two-week period is set at 41.57, with the RSI for the last a single of trading hit 38.92, and the three-weeks RSI is set at 42.81 for Goodyear Tire & Rubber Co. [GT]. The present Moving Average for the last 50 days of trading for this stock 12.45, while it was recorded at 11.95 for the last single week of trading, and 12.43 for the last 200 days.

Goodyear Tire & Rubber Co. [GT]: An insightful look at the core fundamentals

Goodyear Tire & Rubber Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.65 and a Current Ratio set at 1.28.

Earnings per share (EPS) analysis for Goodyear Tire & Rubber Co. [GT] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Goodyear Tire & Rubber Co. go to 3.62%.

Goodyear Tire & Rubber Co. [GT]: Institutional Ownership

The top three institutional holders of GT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in GT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in GT stock with ownership which is approximately 5.7994%.

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