Goodyear Tire & Rubber (NASDAQ:GT) Issues Quarterly Earnings Results, Beats Expectations 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, topping the consensus estimate of $0.25 by $0.12, Briefing.com reports. Goodyear Tire & Rubber had a positive return on equity of 6.69% and a negative net margin of 1.56%. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same period in the previous year, the company earned $0.36 EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis.

Goodyear Tire & Rubber Price Performance

Shares of GT stock traded up $0.27 during trading hours on Thursday, hitting $9.78. 3,776,863 shares of the company’s stock were exchanged, compared to its average volume of 4,281,203. The stock’s 50-day moving average is $8.33 and its 200-day moving average is $10.18. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -9.29 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.

Analyst Ratings Changes

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