Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05), FiscalAI reports. Goodyear Tire & Rubber had a negative return on equity of 6.48% and a negative net margin of 3.33%. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.59 billion. During the same quarter last year, the company posted $0.28 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis.
Goodyear Tire & Rubber Stock Performance
Shares of Goodyear Tire & Rubber stock opened at $4.45 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.09 and a debt-to-equity ratio of 1.92. Goodyear Tire & Rubber has a twelve month low of $4.09 and a twelve month high of $10.62. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -2.19 and a beta of 1.22. The company’s fifty day moving average is $4.99 and its 200 day moving average is $6.57.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. Zacks Research downgraded Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Wall Street Zen raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Goodyear Tire & Rubber presently has an average rating of “Reduce” and a consensus target price of $8.06.
Check Out Our Latest Stock Analysis on GT
About Goodyear Tire & Rubber
Goodyear Tire & Rubber Company is a global tire manufacturer headquartered in Akron, Ohio. Founded in 1898, the company develops, produces, markets and distributes tires and related products for passenger vehicles, commercial trucks, aircraft, motorcycles, agricultural equipment and off-road vehicles.
Goodyear serves consumer, commercial and original-equipment customers through a portfolio that includes Goodyear and other regional and market-specific brands. Its offerings include replacement tires, tires supplied to vehicle manufacturers, retreading products and related solutions designed to support vehicle performance, safety and efficiency.
In addition to manufacturing, Goodyear operates tire and automotive service locations and provides fleet-management, maintenance and other mobility-related services for commercial customers.
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