Goodyear Tire & Rubber (NASDAQ:GT) Releases Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Goodyear Tire & Rubber (NASDAQ:GT) posted its earnings results on Friday. The company reported ($1.87) earnings per share for the quarter, topping the consensus estimate of ($2.11) by $0.24, MarketWatch Earnings reports. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.90 billion. Goodyear Tire & Rubber had a negative net margin of 6.12% and a positive return on equity of 1.48%. The company’s revenue was down 41.0% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share.

NASDAQ GT traded down $0.70 during trading on Friday, hitting $9.01. The company had a trading volume of 6,155,220 shares, compared to its average volume of 3,496,670. The company has a current ratio of 1.17, a quick ratio of 0.62 and a debt-to-equity ratio of 1.60. Goodyear Tire & Rubber has a one year low of $4.09 and a one year high of $17.20. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -2.42 and a beta of 2.05. The company’s fifty day moving average is $9.13 and its 200-day moving average is $9.09.

GT has been the subject of several recent research reports. ValuEngine upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Nomura reaffirmed a “buy” rating and set a $11.00 price objective on shares of Goodyear Tire & Rubber in a research note on Wednesday, May 6th. BidaskClub cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Thursday, June 18th. Deutsche Bank reduced their price objective on shares of Goodyear Tire & Rubber from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Tuesday, May 5th. Finally, Cfra reduced their price objective on shares of Goodyear Tire & Rubber from $16.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $11.35.

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. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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Earnings History for Goodyear Tire & Rubber (NASDAQ:GT)

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