Goodyear Down After Announcing Layoffs

Consumer Cyclical sector company The Goodyear Tire & Rubber Company posted a -3.6% performance Friday, while the S&P 500 returned 0.76%. Investors were spooked by the company's announcement that it would cut 500 jobs globally as it expects headwinds in the coming year.

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company is based in Akron and has 72,000 full time employees. Its market capitalization is $3,139,757,119

7 analysts are following The Goodyear Tire & Rubber Company and have set target prices ranging from $11 to $17 per share. On average, they have given the company a rating of buy. At today's prices, GT is trading -22.32% away from its average analyst target price of $14.29 per share.

Over the last year, GT shares have gone down by -44.3%, which represents a difference of -34.4% when compared to the S&P 500. The stock's 52 week high is $22.66 per share and its 52 week low is $9.66. Although The Goodyear Tire & Rubber Company's average free cash flow over the last four years has been $328,666,666.7, they have been decreasing at an average rate of -37.8%. For this reason, investors may continue to shun the stock.

Date Reported Cash Flow from Operations ($ MM) Capital expenditures ($ MM) Free Cash Flow ($ MM) YoY Growth (%)
2021-12-31 1,062 -981 81 -82.69
2020-12-31 1,115 -647 468 7.09
2019-12-31 1,207 -770 437 n/a
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.