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

Goodyear Tire & Rubber (NASDAQ:GT) issued its quarterly earnings data on Thursday. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10, Zacks reports. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion.

Goodyear Tire & Rubber Stock Up 17.3 %

Goodyear Tire & Rubber stock traded up $1.41 during mid-day trading on Friday, reaching $9.58. The company’s stock had a trading volume of 21,664,806 shares, compared to its average volume of 4,298,109. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -9.21 and a beta of 1.79. Goodyear Tire & Rubber has a 12 month low of $7.27 and a 12 month high of $13.86. The business’s 50 day simple moving average is $9.03 and its 200 day simple moving average is $8.89. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14.

Wall Street Analyst Weigh In

GT has been the subject of several research reports. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Hold” and an average target price of $13.30.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.