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

Goodyear Tire & Rubber (NASDAQ:GT) released its quarterly earnings data on Thursday. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10, Zacks reports. The firm had revenue of $4,947,000 billion for the quarter, compared to analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT traded up $1.41 during trading hours on Friday, hitting $9.58. The stock had a trading volume of 21,664,806 shares, compared to its average volume of 4,298,109. The stock’s fifty day simple moving average is $9.03 and its 200 day simple moving average is $8.89. Goodyear Tire & Rubber has a 1-year low of $7.27 and a 1-year high of $13.86. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -9.21 and a beta of 1.79. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14.

Analysts Set New Price Targets

GT has been the topic of several research reports. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.