Goodyear Tire & Rubber (NASDAQ:GT) Issues Quarterly Earnings Results

Posted by Stacy Sanders on May 9th, 2024

Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) announced its quarterly earnings data on Monday. The company reported $0.10 earnings per share (EPS) for the quarter, Briefing.com reports. Goodyear Tire & Rubber had a negative net margin of 3.43% and a positive return on equity of 1.16%. The business had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the firm posted ($0.29) EPS. The company’s revenue was down 8.9% on a year-over-year basis.

Goodyear Tire & Rubber Trading Up 2.0 %

NASDAQ GT opened at $12.67 on Thursday. The company’s 50-day simple moving average is $12.52 and its two-hundred day simple moving average is $13.16. Goodyear Tire & Rubber has a one year low of $10.94 and a one year high of $16.50. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -5.61 and a beta of 1.86. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.55 and a current ratio of 1.07.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday. HSBC cut their target price on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Goodyear Tire & Rubber has an average rating of “Moderate Buy” and an average target price of $16.98.

Check Out Our Latest Research Report on GT

Goodyear Tire & Rubber Company Profile

(Get Free Report)

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.