Goodyear Tire & Rubber (NASDAQ:GT) Releases Earnings Results, Beats Estimates By $0.10 EPS

Goodyear Tire & Rubber (NASDAQ:GT) announced its earnings results on Thursday. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10, Zacks reports. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion.

Goodyear Tire & Rubber Trading Up 17.3 %

NASDAQ GT traded up $1.41 during trading hours on Friday, hitting $9.58. The company’s stock had a trading volume of 21,664,806 shares, compared to its average volume of 4,298,109. The stock has a fifty day moving average of $9.03 and a 200 day moving average of $8.89. Goodyear Tire & Rubber has a twelve month low of $7.27 and a twelve month high of $13.86. The firm has a market capitalization of $2.73 billion, a P/E ratio of -9.21 and a beta of 1.79. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51.

Wall Street Analysts Forecast Growth

GT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.30.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.