4 stories mentioning GTUpdated 50d ago
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Goodyear Tire & Rubber Company (GT) shares fell about 7% in Monday trading after Deutsche Bank downgraded the stock to hold from buy, and lowered its price target to $7 per share from $9 earlier.Trading volume stood at about 20.1 million shares, compared with a daily average of around 8 million.Price: $6.05, Change: $-0.46, Percent Change: -6.99%
Goodyear Tire & Rubber (GT) has an average rating of hold and mean price target of $7.60, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We cut our 12-month target by $3 to $7, based on a 2027 P/E of 10.0x, a steep but justified discount to Goodyear's 10-year mean forward P/E of 13.5x. We lower our adjusted EPS estimates to $0.25 from $1.00 for '26 and to $0.70 from $1.40 for '27. Goodyear posted Q1 adjusted EPS of -$0.39 vs. -$0.04, ahead of the -$0.43 consensus. The beat was due to stronger-than-expected sales, as revenue fell 8.7% to $3.88B ($70M ahead of consensus) on an 11.6% drop in tire sales volume, partially offset by higher prices. The segment operating margin contracted 220 bps to 2.4%. Looking ahead, management said it expects increased pressure on tire industry demand and higher raw material costs stemming from Middle East conflict. Goodyear continues to face demand-related issues and the recent spike in crude oil prices should equate to meaningful pressures on profitability, as approximately two-thirds of Goodyear's raw materials costs are petroleum-based (and it doesn't hedge commodity prices). We remain at a Hold on the shares.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Goodyear Tire & Rubber (GT) posted Q1 adjusted EPS of -$0.39 vs. -$0.04, ahead of the -$0.43 consensus. The beat was due to stronger-than-expected sales, as revenue fell 8.7% to $3.88B ($70M ahead of consensus) on an 11.6% drop in tire sales volume, partially offset by higher prices. Segment operating margin contracted 220 bps to 2.4%. The quarter was marked by weak demand in tire markets across the majority of its key geographies. Looking ahead, management said it expects increased pressure on tire industry demand and higher raw material costs stemming from the Middle East conflict, which will require continued meaningful actions to strengthen its cost structure. GT shares are currently trading 2% lower after hours due to the cautious guidance. GT continues to face demand-related issues, and the recent spike in oil prices should equate to meaningful pressures on profitability, as approximately two-thirds of GT's raw materials costs are petroleum-based (and it doesn't hedge commodity prices).
