Goodyear Tire & Rubber (NASDAQ:GT) Announces Quarterly Earnings Results, Beats Estimates By $0.12 EPS

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

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $8.12 on Tuesday. The company has a market cap of $2.31 billion, a PE ratio of -6.60 and a beta of 1.69. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. Goodyear Tire & Rubber has a 52 week low of $7.27 and a 52 week high of $15.24. The business has a 50 day moving average price of $8.31 and a 200-day moving average price of $10.21.

Wall Street Analysts Forecast Growth

GT has been the subject of several research reports. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber Company Profile

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.