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

Goodyear Tire & Rubber (NASDAQ:GT) posted its quarterly earnings data on Monday. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.25 by $0.12, Briefing.com reports. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates 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 revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS.

Goodyear Tire & Rubber Price Performance

NASDAQ:GT traded up $0.28 during trading hours on Wednesday, reaching $9.51. 10,721,350 shares of the company were exchanged, compared to its average volume of 4,283,419. 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 firm has a market cap of $2.71 billion, a PE ratio of -8.88 and a beta of 1.69. Goodyear Tire & Rubber has a twelve month low of $7.27 and a twelve month high of $15.24. The stock’s 50-day moving average is $8.32 and its 200-day moving average is $10.19.

Analyst Upgrades and Downgrades

GT has been the topic of a number of research analyst reports. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Tuesday. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently 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.