Goodyear Tire & Rubber (NASDAQ:GT) Announces Earnings Results, Beats Expectations By $0.02 EPS

Goodyear Tire & Rubber (NASDAQ:GT) issued its quarterly earnings data on Wednesday. The company reported ($0.61) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.02, FiscalAI reports. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.19 billion.

Goodyear Tire & Rubber Trading Down 3.5%

Shares of GT stock traded down $0.25 on Wednesday, hitting $6.94. The company had a trading volume of 7,980,974 shares, compared to its average volume of 8,563,847. Goodyear Tire & Rubber has a twelve month low of $5.43 and a twelve month high of $10.62. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04. The firm has a market cap of $1.99 billion, a P/E ratio of -0.96 and a beta of 1.12. The stock’s 50-day moving average is $6.55 and its two-hundred day moving average is $7.25.

Institutional Trading of Goodyear Tire & Rubber

Institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV boosted its stake in shares of Goodyear Tire & Rubber by 41.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,512 shares of the company’s stock valued at $145,000 after purchasing an additional 4,811 shares during the last quarter. VARCOV Co. acquired a new position in Goodyear Tire & Rubber in the fourth quarter valued at $137,000. Brooklyn Investment Group acquired a new position in Goodyear Tire & Rubber in the fourth quarter valued at $136,000. Northwestern Mutual Wealth Management Co. boosted its position in Goodyear Tire & Rubber by 13.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 17,050 shares of the company’s stock valued at $128,000 after acquiring an additional 1,990 shares during the last quarter. Finally, Abel Hall LLC acquired a new stake in Goodyear Tire & Rubber during the 4th quarter worth about $105,000. 84.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GT has been the topic of a number of recent research reports. TD Cowen cut their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Finally, Citigroup reduced their target price on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.54.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.