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

Goodyear Tire & Rubber (NASDAQ:GT) released its quarterly earnings data on Monday. The company reported $0.37 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 for the quarter, compared to the consensus estimate of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT traded up $0.36 during mid-day trading on Wednesday, reaching $9.59. The company’s stock had a trading volume of 2,369,306 shares, compared to its average volume of 4,244,567. The stock has a 50-day moving average of $8.32 and a two-hundred day moving average of $10.19. The stock has a market capitalization of $2.73 billion, a P/E ratio of -8.88 and a beta of 1.69. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 1.06. Goodyear Tire & Rubber has a 1-year low of $7.27 and a 1-year high of $15.24.

Wall Street Analysts Forecast Growth

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