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

Goodyear Tire & Rubber (NASDAQ:GT) posted its earnings results on Thursday. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10, Zacks reports. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%.

Goodyear Tire & Rubber Price Performance

Shares of GT traded down $0.06 during trading hours on Thursday, reaching $8.17. 8,875,194 shares of the company’s stock traded hands, compared to its average volume of 4,865,623. The stock has a market cap of $2.33 billion, a PE ratio of -7.86 and a beta of 1.79. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The firm’s 50 day simple moving average is $9.07 and its 200-day simple moving average is $8.91. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $13.86.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GT. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Hold” and a consensus price target of $13.30.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.