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

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) issued its earnings results on Monday. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.11, Briefing.com reports. The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.38 billion. Goodyear Tire & Rubber had a negative return on equity of 1.03% and a negative net margin of 2.47%. The business’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share.

Goodyear Tire & Rubber Stock Up 1.3 %

Goodyear Tire & Rubber stock traded up $0.17 during midday trading on Monday, hitting $13.63. 8,999,653 shares of the company’s stock were exchanged, compared to its average volume of 3,911,667. Goodyear Tire & Rubber has a 52-week low of $9.85 and a 52-week high of $16.50. The stock has a 50-day moving average price of $14.06 and a two-hundred day moving average price of $13.35. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.30 and a quick ratio of 0.70.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and lifted their price target for the company from $13.00 to $21.00 in a research report on Thursday, November 16th. JPMorgan Chase & Co. lifted their price target on Goodyear Tire & Rubber from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, November 16th. HSBC assumed coverage on Goodyear Tire & Rubber in a research report on Monday, December 4th. They issued a “buy” rating and a $16.80 price target for the company. Finally, StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.16.

Check Out Our Latest Research Report on Goodyear Tire & Rubber

Insider Buying and Selling

In related news, EVP Darren R. Wells sold 12,985 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $14.19, for a total transaction of $184,257.15. Following the completion of the transaction, the executive vice president now directly owns 98,764 shares in the company, valued at $1,401,461.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Goodyear Tire & Rubber

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC boosted its holdings in shares of Goodyear Tire & Rubber by 24.5% in the 4th quarter. Corient Private Wealth LLC now owns 23,053 shares of the company’s stock worth $330,000 after purchasing an additional 4,530 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth about $298,000. Deutsche Bank AG boosted its holdings in shares of Goodyear Tire & Rubber by 14.4% in the 3rd quarter. Deutsche Bank AG now owns 135,940 shares of the company’s stock worth $1,690,000 after purchasing an additional 17,093 shares in the last quarter. Comerica Bank bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter valued at about $1,510,000. Finally, Creative Planning lifted its stake in shares of Goodyear Tire & Rubber by 152.4% in the 3rd quarter. Creative Planning now owns 54,393 shares of the company’s stock valued at $676,000 after acquiring an additional 32,839 shares during the last quarter. 80.05% of the stock is currently owned by hedge funds and other institutional investors.

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 tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.

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Earnings History for Goodyear Tire & Rubber (NASDAQ:GT)

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