The Goodyear Tire & Rubber Company GT was a big mover last session, as the company saw its shares rise above 5% on the day. The stock rallied on the company’s announcement of a dividend hike from 7 cents per share to 10 cents, thereby returning $4 billion to shareholders. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $28.63 to $31.32 in the past one-month time frame.
In the last 30 days, the company has seen one upward estimate revision and the Zacks Consensus Estimate also moved higher, suggesting that more solid trading could be ahead for Goodyear Tire & Rubber. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Goodyear Tire & Rubber currently sports a Zacks Rank #1 (Strong Buy), while its Earnings ESP is negative.
Another well-ranked stock from the broader Auto/Tires/Trucks sector is Cooper-Standard Holdings Inc. CPS, which sports the same Zacks Rank as Goodyear Tire & Rubber. You can see the complete list of today’s Zacks #1 Rank stocks here.
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