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

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

Goodyear Tire & Rubber Trading Up 2.8%

Shares of NASDAQ:GT traded up $0.12 during midday trading on Wednesday, hitting $4.57. 15,041,109 shares of the stock traded hands, compared to its average volume of 8,714,632. The stock has a market capitalization of $1.31 billion, a PE ratio of -0.52 and a beta of 1.22. The business’s 50 day moving average is $5.06 and its two-hundred day moving average is $6.62. The company has a quick ratio of 0.55, a current ratio of 1.09 and a debt-to-equity ratio of 1.92. Goodyear Tire & Rubber has a one year low of $4.09 and a one year high of $10.62.

Wall Street Analyst Weigh In

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