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

Goodyear Tire & Rubber (NASDAQ:GT) announced 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 net margin of 14.37% and a negative return on equity of 2.95%.

Goodyear Tire & Rubber Stock Up 2.8%

Goodyear Tire & Rubber stock traded up $0.12 on Wednesday, hitting $4.57. 15,041,109 shares of the stock traded hands, compared to its average volume of 8,714,632. 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 P/E ratio of -0.52 and a beta of 1.22. The business’s fifty day simple moving average is $5.06 and its 200 day simple moving average is $6.62. Goodyear Tire & Rubber has a 1 year low of $4.09 and a 1 year high of $10.62.

Analysts Set New Price Targets

Several analysts recently weighed in on GT shares. JPMorgan Chase & Co. cut their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Friday, August 7th. Zacks Research cut shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Finally, Wall Street Zen upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Goodyear Tire & Rubber 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.