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Goodyear (GT) closed the most recent trading day at $11.61, moving -0.94% from the previous trading session. This change lagged the S&P 500's daily gain of 0.13%. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.04%.
Heading into today, shares of the tire maker had gained 0.34% over the past month, lagging the Auto-Tires-Trucks sector's gain of 6.65% and the S&P 500's gain of 5.55% in that time.
Goodyear will be looking to display strength as it nears its next earnings release. On that day, Goodyear is projected to report earnings of $0.43 per share, which would represent year-over-year growth of 34.38%. Meanwhile, our latest consensus estimate is calling for revenue of $5.07 billion, up 27.42% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.12 per share and revenue of $20.7 billion, which would represent changes of +1.44% and +18.42%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Goodyear. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.86% lower. Goodyear currently has a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Goodyear has a Forward P/E ratio of 5.52 right now. This represents a discount compared to its industry's average Forward P/E of 9.35.
The Rubber - Tires industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GT in the coming trading sessions, be sure to utilize Zacks.com.
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The Goodyear Tire & Rubber Company (GT) : Free Stock Analysis Report
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