Goodyear Tire & Rubber (NASDAQ:GT) Releases Earnings Results, Misses Expectations By $0.05 EPS

Goodyear Tire & Rubber (NASDAQ:GT) issued its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05), FiscalAI reports. Goodyear Tire & Rubber had a negative net margin of 14.37% and a negative return on equity of 2.95%.

Goodyear Tire & Rubber Stock Performance

Goodyear Tire & Rubber stock traded up $0.12 during trading hours on Wednesday, reaching $4.57. 15,269,596 shares of the company were exchanged, compared to its average volume of 8,735,841. Goodyear Tire & Rubber has a 12 month low of $4.09 and a 12 month high of $10.62. The stock has a 50-day moving average of $5.06 and a 200 day moving average of $6.62. The company has a current ratio of 1.09, a quick ratio of 0.55 and a debt-to-equity ratio of 1.92. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -0.52 and a beta of 1.22.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Zacks Research lowered Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Wall Street Zen upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. cut their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Friday, October 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $8.06.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Company is a global tire manufacturer headquartered in Akron, Ohio. Founded in 1898, the company develops, produces, markets and distributes tires and related products for passenger vehicles, commercial trucks, aircraft, motorcycles, agricultural equipment and off-road vehicles.

Goodyear serves consumer, commercial and original-equipment customers through a portfolio that includes Goodyear and other regional and market-specific brands. Its offerings include replacement tires, tires supplied to vehicle manufacturers, retreading products and related solutions designed to support vehicle performance, safety and efficiency.

In addition to manufacturing, Goodyear operates tire and automotive service locations and provides fleet-management, maintenance and other mobility-related services for commercial customers.