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

Goodyear Tire & Rubber (NASDAQ:GT) posted its quarterly earnings data on Wednesday. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.10, Briefing.com reports. Goodyear Tire & Rubber had a positive return on equity of 6.53% and a negative net margin of 1.82%. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the business earned ($0.34) EPS. The company’s quarterly revenue was down 6.1% compared to the same quarter last year.

Goodyear Tire & Rubber Stock Down 15.9 %

GT stock opened at $9.84 on Friday. The stock has a market capitalization of $2.80 billion, a PE ratio of -4.35 and a beta of 1.74. The company has a fifty day moving average of $11.67 and a 200-day moving average of $12.42. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.60 and a current ratio of 1.15. Goodyear Tire & Rubber has a one year low of $9.75 and a one year high of $15.93.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. HSBC reduced their price objective on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Morgan Stanley initiated coverage on shares of Goodyear Tire & Rubber in a research report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.