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The Goodyear Tire & Rubber Company

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Goodyear Tire & Rubber Company - Automobile ComponentsKey arguments in support of the idea. • Reduction in leverage in the forthcoming quarters through asset sales. • GT's margins may stabilize in Q2, which could lead to better-than-expected net income results. Investment Thesis Goodyear Tire & Rubber Co. (GT) develops, manufactures, and markets highquality automotive tires. Headquartered in the United States, this renowned company operates in 23 countries and stands as one of the most recognized and trusted brands among tire manufacturers globally. Goodyear Tire & Rubber's divestiture of its off-the-road tire (OTR) business underscores the Company's effective execution of its asset portfolio optimization strategy. On July 22, Goodyear announced that it had entered into a definitive agreement to sell the OTR business to Yokohama Rubber for $905 million. This segment generated approximately $0.7 billion in annual revenue, representing a modest 3.5% of Goodyear's total revenue for the full year 2023. The deal appears to be a well-planned move, as the OTR business was one of three assets the Company earmarked for sale to achieve its goal of reducing total debt by $1.5 billion by 2025. The success of this strategic sale indicates that Goodyear's debt reduction plan is beginning to yield positive results. During the second quarter, oil prices remained close to those observed in the first quarter, a factor expected to assist the Company in reducing its expenses. Historically, GT's stock chart has exhibited a significant inverse correlation with oil prices – an understandable trend, considering that crude oil serves as a fundamental raw material for the production of synthetic rubber and other essential components for automotive tires. Notably, approximately two-thirds of Goodyear Tire's raw material costs are influenced by oil prices. The stabilization of oil prices during the second quarter is a promising indicator, suggesting a potential alleviation of the pressure on the Company's profit margins. Goodyear Tire & Rubber's leverage remains a significant concern, but strategic asset sales could substantially enhance the balance sheet. On November 28th of last year, S&P Global downgraded Goodyear Tire from 'BB-' to 'B+', citing that the Company's free operating cash flow (FOCF) might turn negative in 2024 and extend into 2025. Additionally, ongoing high business process optimization costs are projected to continue exerting pressure on the Company's margins. By the end of March, Goodyear Tire & Rubber Co. (GT) reported total debt of $8.26 billion, down 8.3% year-over-year. Should GT allocate most proceeds from the sale of its OTR business to debt reduction, its Net Debt/EBITDA ratio for 2024 could eventually reach 3.0x, and debt service costs could decline by more than 10% in the upcoming quarters. In the first quarter of this year, debt service costs accounted for over 50% of operating profit, indicating that debt reduction could significantly enhance earnings. We believe that Goodyear Tire & Rubber Co. shares may exhibit positive momentum following the release of the second-quarter report. We anticipate that the Company's management will successfully highlight the reduction in leverage by the end of the year when presenting the results. Our target price for the Company is set at $13.70, with a Buy recommendation. We advise setting a stop-loss at $10.60 to mitigate potential risks.
NASDAQ:GTLong
by FreedomHolding
MACD BUY ALERTThis is. MY first Post If trading view likes this I can post a stock throughout the week If you use a program called Metastock-I Do - I Am Not ADVERTISING - I scan for stocks every night that get a MACD Buy Alert on Nasdaq Only If the price the next day breaks the high of the Alert Day - then I place a Call Option ITM using a small bank roll challenge. I started with only $200.00 For those with a small bankroll $250.00: You can buy stock options - puts or calls for that price . Or at least OTM more risky This is my challenge - so how I can do This is not financial Advice I hope you enjoyed and follow Thanks
NASDAQ:GTLong
by MACD-SmallBankrollChallenge
2
Positive signal identified on GT Goodyear Tire & Rubber Company (GT): An Integrated Financial and Technical Perspective Executive Summary: The Goodyear Tire & Rubber Company stock (GT) presents a complex narrative that intertwines progressive corporate strategy with a dynamic technical posture. The company has launched a pivotal transformation initiative, 'Goodyear Forward,' aiming to bolster its fiscal health and market standing. Concurrently, the stock's technical indicators suggest cautious optimism, with specific entry and exit points proposed for strategic trading. Technical Analysis Insights: Our scrutiny of GT's chart reveals substantial volatility, characterized by sharp price ascents and consolidation. Key technical indicators have been evaluated: - Support & Resistance Dynamics: GT is hovering above a solid support level at approximately $14.00, a critical juncture often seen as a market stabilizer. On the flip side, a resistance level looms near $15.00, a threshold historically linked with selling pressure. - Fibonacci Retracement Levels: These levels underscore potential resistance zones. Particularly, the 50% and 61.8% retracement levels, dubbed the 'Golden Ratio,' are pivotal markers that could dictate the stock's trajectory. - Moving Averages Analysis: The short-term trend is gauged via a 5-period SMA, while the long-term trend is assessed through a 200-period SMA. The price's interaction with these averages may signal the trend's vigor or a forthcoming reversal. - Stochastic RSI Indication: Presently in the lower spectrum, the Stochastic RSI intimates an oversold condition, hinting at a prospective price rebound, a detail crucial for traders eyeing entry opportunities. Corporate and Financial Developments: GT's recent announcements and financial outcomes provide a vital context for the technical analysis: 1. Goodyear Forward: This initiative is a strategic leap aimed at refining earnings, augmenting cash flow, and slashing debt, setting GT on a path towards an investment-grade rating. 2. Leadership Transition: The impending retirement of Chairman, CEO, and President Richard J. Kramer in 2024 heralds a potential shift in the company's strategic direction, a factor that requires investor vigilance. 3. Quarterly Financial Performance: The company's Q1 2023 financial results could serve as a barometer for current health and future forecasts. 4. Activist Investor Influence: Elliott Investment Management's stake and its push for board representation have injected optimism into the market, with prognostications of the stock climbing to the $21 to low-$30 bracket. -Integrated Analysis and Strategic Outlook: Incorporating Elliott Investment Management's bullish influence and GT's proactive financial measures, GT stock is anticipated to ascend in the medium to long-term horizon. Nevertheless, technical analysis advises short-term prudence, primarily due to the Stochastic RSI's bearish inclination and the potential uncertainty infused by the CEO's impending departure. Financial conclusion and approach: - Confidence Level: Cautiously Optimistic - Actionable Advice: Maintain a HOLD stance, with a predisposition to BUY on value dips or corroborating positive developments. - Target Entry Point: Seek entry near the lower support zone for an advantageous risk-reward proposition. - Exit Considerations: Aim for exits around the upper resistance level, while remaining attentive to Elliott's sway and strategic alterations, which may necessitate strategy recalibration. Investors are encouraged to persistently monitor GT, particularly for updates related to 'Goodyear Forward,' Elliott Investment Management's exertions, and the leadership transition. These elements are poised to substantially influence GT's market performance.
NASDAQ:GT
by lucasbasoglu
GoodYear Tire (NASDAQ: $GT) Finds The Golden Pocket! 🔍The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving equipment, and mining and industrial equipment under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands. The company also retreads truck, aviation, and off-the-road tires; manufactures and sells tread rubber and other tire retreading materials; sells chemical and natural rubber products; and provides automotive and commercial truck maintenance and repair services, and miscellaneous other products and services. It operates approximately 1,000 retail outlets, which offer products for retail sale, and provides repair and other services. The company sells its products worldwide through a network of independent dealers, regional distributors, retail outlets, and retailers. The Goodyear Tire & Rubber Company was incorporated in 1898 and is headquartered in Akron, Ohio.
NASDAQ:GTLong
by Bullishcharts
1
GT | GuidanceJournal Entry Bias: Positive. Sentiment: Optimistic. Emoji (emotion): Greedy🤴 Null Hypothesis: Buy. Alternative Hypothesis: Sell. Signals: ... Position: Short term day trade. Notes: I'm anticipating the market to buy the earnings surprise 5/29/22 BMO: www.estimize.com Barron's Company Overview: www.barrons.com . Other: ... Tutorial: (Q/A) What exactly is the box labeled tolerance? The box labeled tolerance is a defined range of value & time that qualifies the right to exit the trade after a profit is made; as long as the security is inside the box and above the trade's entry one could say the profit is within tolerance, likewise if the security is outside the box either because of value or time one could say the profit is not within tolerance. It's a way to add parameters to the future outcome (as a means to grade the journal entry) while simultaneously providing leniency in the ability to achieve success with said journal entry. Social: I'm happy to hear from my readers/audience and I encourage constructive feedback; although I'm busy I will give my best effort to reply. About the Author: I strive to become one of Tradingview's pinescript Wizards and Top Authors, as well as build a reputable reputation & following. I'm not a Wall Street retailer I don't have products or services for sale, although I am a financial scientist and my source of income is my trading; that is to say anything offered to the community is apart of my scientific journal or goodwill to mankind (you're very welcome). About the Security: "Goodyear Tire & Rubber Co. engages in the development, manufactures, distribution, and sale of tires. Its products include lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment and various other applications. The company was founded by Frank A. Seiberling on August 29, 1898 and is headquartered in Akron, OH." Disclaimer: My journal entry is not a complete prospectus, please consider it accordingly.
NASDAQ:GTLong
by UnknownUnicorn28743597
GT crashed into a MAJOR support: Cars still need Tires, right ??Plotted here are two different Fib series. Thick lines are of its "Genesis" (birth) fib. Thin lines are the "Covid Stimulus" wave. Confluence zones of the fibs are of great interest. Pings (exact ricochets) confirm the fibs' relevance. Pings on subsequently higher fibs a good bull sign. I do NOT research the companies, I just plot the charts. Maybe there was a REASON for crash and it will continue? But if there is a "bottom" anywhere near here, THIS Is it. . I do not use "Fibs" in the "traditional" manner (retracements). I use Fibs to plot "Ripples" (extensions) created by "Impulses". Then look for "Confluences" to map the "interference Pattern". My TV collection of ideas detailing the Concepts: Chapter 1: Introduction and numerous Examples Chapter 2: Detailed views and Wave Analysis Chapter 3: The Dreaded 9.618: Murderer of Moves Chapter 4: Impulse Redux: Return to Birth place Chapter 5: Golden Growth: Parabolic Expansions Chapter 6: Give me a ping Vasili: 'one' Ping only Chapter 7: The Mighty 2.618: like a Rook in Chess .
NASDAQ:GT
by EuroMotif