Goodyear Tire & Rubber (NASDAQ:GT) Announces Quarterly Earnings Results, Beats Estimates By $0.12 EPS

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

Goodyear Tire & Rubber Trading Up 3.9 %

Shares of GT stock traded up $0.36 during trading hours on Wednesday, reaching $9.59. 2,369,306 shares of the stock were exchanged, compared to its average volume of 4,244,567. Goodyear Tire & Rubber has a 12-month low of $7.27 and a 12-month high of $15.24. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The company’s 50-day moving average price is $8.32 and its 200-day moving average price is $10.19. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -8.88 and a beta of 1.69.

Analyst Ratings Changes

GT has been the subject of a number of recent research reports. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Tuesday. Wolfe Research cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.