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Goodyear (GT) Stock Moves -0.6%: What You Should Know
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Goodyear (GT - Free Report) closed at $13.26 in the latest trading session, marking a -0.6% move from the prior day. This change was narrower than the S&P 500's 1.21% loss on the day. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Prior to today's trading, shares of the tire maker had lost 5.26% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 15.82% and the S&P 500's gain of 5.85% in that time.
Investors will be hoping for strength from Goodyear as it approaches its next earnings release. The company is expected to report EPS of $0.31, down 27.91% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.89 billion, up 39.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.48 per share and revenue of $20.61 billion, which would represent changes of +18.66% and +17.94%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Goodyear. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Goodyear currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Goodyear has a Forward P/E ratio of 5.38 right now. For comparison, its industry has an average Forward P/E of 9.07, which means Goodyear is trading at a discount to the group.
The Rubber - Tires industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Goodyear (GT) Stock Moves -0.6%: What You Should Know
Goodyear (GT - Free Report) closed at $13.26 in the latest trading session, marking a -0.6% move from the prior day. This change was narrower than the S&P 500's 1.21% loss on the day. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Prior to today's trading, shares of the tire maker had lost 5.26% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 15.82% and the S&P 500's gain of 5.85% in that time.
Investors will be hoping for strength from Goodyear as it approaches its next earnings release. The company is expected to report EPS of $0.31, down 27.91% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.89 billion, up 39.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.48 per share and revenue of $20.61 billion, which would represent changes of +18.66% and +17.94%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Goodyear. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Goodyear currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Goodyear has a Forward P/E ratio of 5.38 right now. For comparison, its industry has an average Forward P/E of 9.07, which means Goodyear is trading at a discount to the group.
The Rubber - Tires industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.