Goodyear Tire & Rubber (NASDAQ:GT) Issues Earnings Results, Beats Estimates By $0.10 EPS

Goodyear Tire & Rubber (NASDAQ:GT) posted its quarterly earnings data on Thursday. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10, Zacks reports. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The firm had revenue of $4,947,000 billion during the quarter, compared to analyst estimates of $4.91 billion.

Goodyear Tire & Rubber Stock Up 17.3 %

GT stock traded up $1.41 during midday trading on Friday, reaching $9.58. The company had a trading volume of 21,664,806 shares, compared to its average volume of 4,298,109. Goodyear Tire & Rubber has a 1 year low of $7.27 and a 1 year high of $13.86. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $2.73 billion, a P/E ratio of -9.21 and a beta of 1.79. The company has a 50 day moving average of $9.03 and a two-hundred day moving average of $8.89.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.30.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.