Bridgestone (OTCMKTS:BRDCY) Rating Lowered to Hold at Sanford C. Bernstein

Bridgestone (OTCMKTS:BRDCY) was downgraded by Sanford C. Bernstein from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other analysts also recently issued reports on the company. Zacks Research upgraded Bridgestone from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. The Goldman Sachs Group downgraded shares of Bridgestone from a “strong-buy” rating to a “neutral” rating in a research note on Wednesday, June 17th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Bridgestone currently has a consensus rating of “Moderate Buy”.

Bridgestone Trading Down 0.6%

Shares of BRDCY stock opened at $12.84 on Wednesday. Bridgestone has a 1 year low of $9.15 and a 1 year high of $13.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 1.83. The stock’s 50 day simple moving average is $11.45 and its two-hundred day simple moving average is $11.08. The company has a market cap of $34.26 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.19 and a beta of 0.54.

Bridgestone (OTCMKTS:BRDCY) last announced its earnings results on Thursday, May 14th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.87 billion. Research analysts predict that Bridgestone will post 0.89 earnings per share for the current year.

About Bridgestone

Bridgestone Corporation is a Japanese multinational company principally engaged in the design, manufacture and sale of tires and rubber products. Founded in 1931 by Shojiro Ishibashi and headquartered in Tokyo, the company has grown into one of the world’s largest tire manufacturers, offering products for a broad range of vehicles and applications.

The company’s core offerings include tires for passenger cars, motorcycles, commercial trucks and buses, agricultural and off‑the‑road equipment, and aircraft.