Goodyear Tire & Rubber (NASDAQ:GT) Issues Earnings Results

Goodyear Tire & Rubber (NASDAQ:GT) issued its earnings results on Monday. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12, Briefing.com reports. The firm had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Goodyear Tire & Rubber had a positive return on equity of 6.69% and a negative net margin of 1.56%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 earnings per share.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT traded up $0.27 during midday trading on Thursday, hitting $9.78. 3,776,863 shares of the company’s stock were exchanged, compared to its average volume of 4,281,203. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $15.24. The company’s 50 day moving average price is $8.33 and its 200 day moving average price is $10.18. The firm has a market capitalization of $2.78 billion, a PE ratio of -9.29 and a beta of 1.69.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GT shares. Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.23.

Goodyear Tire & Rubber Company Profile

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 rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.