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

Goodyear Tire & Rubber (NASDAQ:GT) posted its quarterly earnings results on Wednesday. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.10, Briefing.com reports. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business posted ($0.34) earnings per share. The company’s revenue was down 6.1% on a year-over-year basis.

Goodyear Tire & Rubber Stock Down 15.9 %

Shares of GT stock traded down $1.86 during mid-day trading on Thursday, hitting $9.84. 21,512,646 shares of the stock traded hands, compared to its average volume of 3,493,933. The stock has a market cap of $2.80 billion, a P/E ratio of -4.35 and a beta of 1.74. The stock’s fifty day moving average is $11.67 and its two-hundred day moving average is $12.42. Goodyear Tire & Rubber has a 52-week low of $9.75 and a 52-week high of $15.93. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.15 and a quick ratio of 0.60.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. HSBC decreased their price target on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Morgan Stanley started coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of “Moderate Buy” and an average price target of $17.23.

About Goodyear Tire & Rubber

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.