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

Goodyear Tire & Rubber (NASDAQ:GT) announced its quarterly earnings data on Monday. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.12, Briefing.com reports. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS.

Goodyear Tire & Rubber Trading Down 1.2 %

NASDAQ GT opened at $8.12 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $2.31 billion, a P/E ratio of -6.60 and a beta of 1.69. Goodyear Tire & Rubber has a 52-week low of $7.27 and a 52-week high of $15.24. The firm has a 50-day moving average price of $8.32 and a 200 day moving average price of $10.23.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GT. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Wolfe Research downgraded Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of “Moderate Buy” and a consensus price target 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.