Bridgestone (OTCMKTS:BRDCY) Rating Lowered to “Hold” at Sanford C. Bernstein

Bridgestone (OTCMKTS:BRDCY) was downgraded by equities research analysts at Sanford C. Bernstein from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages have also recently weighed in on BRDCY. Zacks Research upgraded Bridgestone from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. The Goldman Sachs Group lowered Bridgestone from a “strong-buy” rating to a “neutral” rating in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Bridgestone currently has a consensus rating of “Moderate Buy”.

Bridgestone Stock Down 0.6%

Bridgestone stock opened at $12.84 on Wednesday. The company has a market cap of $34.26 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 1.19 and a beta of 0.54. Bridgestone has a 1-year low of $9.15 and a 1-year high of $13.64. The company has a fifty day simple moving average of $11.45 and a 200 day simple moving average of $11.08. The company has a current ratio of 2.71, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18.

Bridgestone (OTCMKTS:BRDCY) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.87 billion. Research analysts anticipate that Bridgestone will post 0.89 earnings per share for the current fiscal year.

About Bridgestone

Bridgestone Corporation is a Japanese multinational company principally engaged in the design, manufacture and sale of tires and rubber products. Founded in 1931 by Shojiro Ishibashi and headquartered in Tokyo, the company has grown into one of the world’s largest tire manufacturers, offering products for a broad range of vehicles and applications.

The company’s core offerings include tires for passenger cars, motorcycles, commercial trucks and buses, agricultural and off‑the‑road equipment, and aircraft.