Goodyear's target price raised to €17.76

ERJ staff report (TP)

Akron − Argus upped their target price on shares of Goodyear from $22 (€16.28) to $24 (€17.76) in a research note issued on 5 November, Stock Ratings News reports.

The firm currently has a “buy” rating on the stock. Argus’ price target points to a potential upside of 15.16 percent from the stock’s previous close.

Goodyear traded up 1.73 percent during mid-day trading on 5 November, hitting $21.20 (€15.69). The stock had a trading volume of 2,295,490 shares. Goodyear has a 52-week low of $10.91 (€8.07) and a 52-week high of $23.40 (€17.32). The stock has a 50-day moving average of $22.17 (€16.41) and a 200-day moving average of $17.83 (€13.19). The company has a market cap of $5.234bn (€3.874bn) and a P/E ratio of 13.77.

Goodyear last announced its earnings results on 29 October. The company reported $0.62 (€0.45) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.63 (€0.46) by $0.01 (€0.007). The company had revenue of $5bn € (3.7bn) for the quarter, compared to the consensus estimate of $5.22bn (€3.86bn).

During the same quarter last year, the company posted $0.53 (€0.39) earnings per share. Goodyear’s revenue was down 5 percent compared to the same quarter last year. On average, analysts predict that Goodyear will post $2.51 (€1.86) earnings per share for the current fiscal year.

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