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

by · The Markets Daily

Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 1.56% and a positive return on equity of 6.69%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS.

Goodyear Tire & Rubber Trading Up 3.2 %

NASDAQ GT traded up $0.30 during trading hours on Thursday, hitting $9.81. The company’s stock had a trading volume of 3,650,193 shares, compared to its average volume of 4,280,616. Goodyear Tire & Rubber has a twelve month low of $7.27 and a twelve month high of $15.24. The firm has a market capitalization of $2.79 billion, a P/E ratio of -9.29 and a beta of 1.69. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. The stock has a fifty day moving average of $8.33 and a 200 day moving average of $10.18.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GT. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.23.

View Our Latest Report on GT

Goodyear Tire & Rubber Company Profile

(Get Free Report)

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.

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