Goodyear Tire & Rubber (NASDAQ:GT) posted its earnings results on Friday. The company reported ($1.87) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.11) by $0.24, MarketWatch Earnings reports. Goodyear Tire & Rubber had a negative net margin of 6.12% and a positive return on equity of 1.48%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.90 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. Goodyear Tire & Rubber’s quarterly revenue was down 41.0% compared to the same quarter last year.
NASDAQ:GT traded down $0.70 on Friday, hitting $9.01. 6,155,220 shares of the company’s stock were exchanged, compared to its average volume of 3,496,670. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.17 and a quick ratio of 0.62. The firm has a 50-day moving average price of $9.13 and a 200-day moving average price of $9.09. The company has a market cap of $2.10 billion, a P/E ratio of -2.42 and a beta of 2.05. Goodyear Tire & Rubber has a 52 week low of $4.09 and a 52 week high of $17.20.
A number of analysts recently weighed in on GT shares. Deutsche Bank lowered their price target on shares of Goodyear Tire & Rubber from $7.00 to $5.00 and set a “hold” rating for the company in a report on Tuesday, May 5th. Cfra lowered their price target on shares of Goodyear Tire & Rubber from $16.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, April 30th. BidaskClub lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Thursday, June 18th. Nomura reaffirmed a “buy” rating and set a $11.00 target price on shares of Goodyear Tire & Rubber in a report on Wednesday, May 6th. Finally, ValuEngine raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Friday, May 1st. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.35.
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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