The Goodyear Tire & Rubber Company (GT) is an interesting player in the Consumer Goods space, with a focus on Rubber & Plastics. The stock has been active on the tape, currently trading at $35.99, up from yesterday’s close by 0.14%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.
This company has been competing with others in the Consumer Goods space and offers its own combination of interesting factors The Goodyear Tire & Rubber Company (GT) currently trades with a market capitalization of $9.07 Billion. That value represents a market adjusting for revenues that have been falling by -7.93 % on a quarterly year/year basis as of the company’s last quarterly report.
The balance sheet health of any company plays a key role in its ability to meet its obligations and maintain the faith of its investment base. For GT, the company currently has $1.13 Billion of cash on the books, which is offset by $681 Million current liabilities. You can get a sense of how sustainable that is by a levered free cash flow of $508 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of $0.64 on a per share basis this quarter. Perhaps, that suggests something about why 0.87% of the outstanding share supply is held by institutional investors.
It’s important to check the technicals to get a sense of how GT has been acting. Looking at the stock’s movement on the chart, The Goodyear Tire & Rubber Company recorded a 52-week high of $37.20. It is now trading 1.21% off that level. The stock is trading $34.18 its 50-day moving average by -1.81%. The stock carved out a 52-week low down at $24.10.
In recent action, The Goodyear Tire & Rubber Company (GT) has made a move of +2.07% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 2.32, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 6.60% with $251.19 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of GT.