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Goodyear (GT) Stock Moves -1.06%: What You Should Know
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Goodyear (GT - Free Report) closed at $21.51 in the latest trading session, marking a -1.06% move from the prior day. This change was narrower than the S&P 500's 1.89% loss on the day. Meanwhile, the Dow lost 1.3%, and the Nasdaq, a tech-heavy index, lost 0.17%.
Coming into today, shares of the tire maker had gained 3.18% in the past month. In that same time, the Auto-Tires-Trucks sector gained 5.69%, while the S&P 500 lost 1.79%.
Wall Street will be looking for positivity from Goodyear as it approaches its next earnings report date. In that report, analysts expect Goodyear to post earnings of $0.21 per share. This would mark a year-over-year decline of 52.27%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.87 billion, up 33.18% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Goodyear. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 1.2% higher. Goodyear currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Goodyear has a Forward P/E ratio of 7.76 right now. For comparison, its industry has an average Forward P/E of 12.21, which means Goodyear is trading at a discount to the group.
The Rubber - Tires industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Goodyear (GT) Stock Moves -1.06%: What You Should Know
Goodyear (GT - Free Report) closed at $21.51 in the latest trading session, marking a -1.06% move from the prior day. This change was narrower than the S&P 500's 1.89% loss on the day. Meanwhile, the Dow lost 1.3%, and the Nasdaq, a tech-heavy index, lost 0.17%.
Coming into today, shares of the tire maker had gained 3.18% in the past month. In that same time, the Auto-Tires-Trucks sector gained 5.69%, while the S&P 500 lost 1.79%.
Wall Street will be looking for positivity from Goodyear as it approaches its next earnings report date. In that report, analysts expect Goodyear to post earnings of $0.21 per share. This would mark a year-over-year decline of 52.27%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.87 billion, up 33.18% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Goodyear. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 1.2% higher. Goodyear currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Goodyear has a Forward P/E ratio of 7.76 right now. For comparison, its industry has an average Forward P/E of 12.21, which means Goodyear is trading at a discount to the group.
The Rubber - Tires industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.