Goodyear Tire & Rubber (NASDAQ:GT) Releases Earnings Results, Misses Estimates By $0.06 EPS

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) announced its earnings results on Monday. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06), FiscalAI reports. Goodyear Tire & Rubber had a positive return on equity of 2.97% and a negative net margin of 9.56%.The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis.

Goodyear Tire & Rubber Stock Down 0.1%

Shares of Goodyear Tire & Rubber stock opened at $10.53 on Tuesday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -1.73, a P/E/G ratio of 0.79 and a beta of 1.18. The stock has a 50-day simple moving average of $9.13 and a 200-day simple moving average of $8.50. Goodyear Tire & Rubber has a 52-week low of $6.51 and a 52-week high of $12.03. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.27 and a quick ratio of 0.71.

Goodyear Tire & Rubber News Roundup

Here are the key news stories impacting Goodyear Tire & Rubber this week:

Institutional Trading of Goodyear Tire & Rubber

Several large investors have recently added to or reduced their stakes in the business. Focus Partners Wealth bought a new position in shares of Goodyear Tire & Rubber during the 3rd quarter valued at $25,000. Moors & Cabot Inc. acquired a new position in Goodyear Tire & Rubber during the third quarter worth $80,000. Boothbay Fund Management LLC acquired a new position in Goodyear Tire & Rubber during the third quarter worth $86,000. Mercer Global Advisors Inc. ADV bought a new position in Goodyear Tire & Rubber during the third quarter valued at about $88,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Goodyear Tire & Rubber by 13.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 17,050 shares of the company’s stock worth $128,000 after buying an additional 1,990 shares during the last quarter. 84.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on GT. JPMorgan Chase & Co. decreased their target price on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Citigroup decreased their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Morgan Stanley boosted their target price on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research note on Friday, November 28th. Finally, Zacks Research raised Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.85.

View Our Latest Research Report on GT

Goodyear Tire & Rubber Company Profile

(Get Free Report)

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.

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

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