The Goodyear Tire & Rubber Company

The Goodyear Tire & Rubber Company (NASDAQ: GT) is a leading global tire company with 52 manufacturing facilities in 23 countries worldwide. It is currently focused on innovating and developing state-of-the-art products and services through its two innovation centers in Akron, Ohio, and Colmar-Berg, Luxembourg.

Key Highlights

• GT generated USD 4.9 billion in revenues in Q3FY21 (ended September 30, 2021), up 42% from the prior corresponding period, aided by higher sales volume, the Cooper Tire merger, and improved price/mix.
• Its Q3FY21 net income amounted to USD 132 million vs. a net loss of USD 2 million reported in Q3FY20.
• On September 28, 2021, its European subsidiary Goodyear Europe BV (GEBV) closed the issuance of EUR 400 million aggregate principal amount of 2.750% senior notes due 2028.
• Its EBITDA and operating margins for the quarter were 10.7% and 5.5%, compared to the industry median of 11.0% and 5.9%, respectively.
• The stock is currently trading above its crucial short-term (50-day) and long-term (200-day) SMA support levels and its RSI Index is at 53.84.
• It is leaning towards the higher end of its 52-week range of USD 9.95 to USD 24.89.
• GT's stock price has surged 106.30% in the past twelve months.

Technical Price Chart (as of December 10, 2021). Analysis by Kalkine

Conclusion: Considering the decent business fundamentals, relatively low-profit margins compared to the industry, a significant uptick in the stock price, and other technical indicators, we recommend a "Watch" rating on the stock at the current price of USD 21.93, down 2.19%, as of December 10, 2021, 1:00 PM ET.

*The reference data in this report has been partly sourced from REFINITIV.

Disclaimer

References to ‘Kalkine’, ‘we’, ‘our’ and ‘us’ refer to Kalkine Limited.

This website is a service of Kalkine Limited. Kalkine Limited is a private limited company, incorporated in England and Wales with registration number 07903332. Kalkine Limited is authorised and regulated by the Financial Conduct Authority under reference number 579414.

The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. No advice or information, whether oral or written, obtained by you from Kalkine or through or from the service shall create any warranty not expressly stated. Kalkine does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation.

Kalkine does not offer financial advice based upon your personal financial situation or goals, and we shall NOT be held liable for any investment or trading losses you may incur by using the opinions expressed in our publications, market updates, news alerts and corporate profiles. Kalkine does not intend to exclude any liability which it is not permitted to exclude under applicable law or regulation. Kalkine’s non-personalised advice does not in any way endorse or recommend individuals, investment products or services for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a professional authorised financial planner and adviser. You should be aware that the value of any investment and the income from it can go down as well as up and you may not get back the amount invested.

Kalkine Media Limited, an affiliate of Kalkine Limited, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.