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

Posted by Patrick Bannon on Nov 5th, 2024

Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) released its quarterly earnings results on Monday. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.12, Briefing.com reports. The company had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 earnings per share.

Goodyear Tire & Rubber Trading Down 1.2 %

NASDAQ:GT opened at $8.12 on Tuesday. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $15.24. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 1.06. The firm’s fifty day moving average is $8.31 and its 200-day moving average is $10.21. The firm has a market cap of $2.31 billion, a P/E ratio of -6.60 and a beta of 1.69.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GT. StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Wolfe Research downgraded Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of “Moderate Buy” and a consensus target price of $17.23.

Get Our Latest Stock Analysis on Goodyear Tire & Rubber

Goodyear Tire & Rubber Company Profile

(Get Free Report)

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.