Goodyear Tire & Rubber (NASDAQ:GT) Announces Earnings Results, Beats Estimates By $0.03 EPS

Goodyear Tire & Rubber (NASDAQ:GTGet Rating) issued its quarterly earnings data on Friday. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03, RTT News reports. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $4.98 billion. Goodyear Tire & Rubber had a net margin of 4.49% and a return on equity of 11.37%. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share.

Goodyear Tire & Rubber Stock Up 5.3 %

Shares of GT stock traded up $0.66 during trading on Friday, reaching $13.23. The company’s stock had a trading volume of 5,725,358 shares, compared to its average volume of 5,870,669. The business has a fifty day moving average price of $11.75 and a 200-day moving average price of $14.00. The company has a quick ratio of 0.65, a current ratio of 1.23 and a debt-to-equity ratio of 1.40. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 4.42 and a beta of 1.88. Goodyear Tire & Rubber has a one year low of $10.33 and a one year high of $24.89.

Institutional Trading of Goodyear Tire & Rubber

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ancora Advisors LLC raised its position in Goodyear Tire & Rubber by 142.9% during the first quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock worth $30,000 after acquiring an additional 1,000 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in Goodyear Tire & Rubber during the first quarter worth $143,000. MUFG Securities EMEA plc raised its position in Goodyear Tire & Rubber by 178.4% during the first quarter. MUFG Securities EMEA plc now owns 10,206 shares of the company’s stock worth $146,000 after acquiring an additional 6,540 shares in the last quarter. Covestor Ltd raised its position in Goodyear Tire & Rubber by 424.8% during the first quarter. Covestor Ltd now owns 12,465 shares of the company’s stock worth $178,000 after acquiring an additional 10,090 shares in the last quarter. Finally, US Bancorp DE raised its position in Goodyear Tire & Rubber by 10.3% during the first quarter. US Bancorp DE now owns 15,225 shares of the company’s stock worth $217,000 after acquiring an additional 1,418 shares in the last quarter. 86.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. TheStreet cut shares of Goodyear Tire & Rubber from a “b-” rating to a “c” rating in a report on Wednesday, May 18th. BNP Paribas began coverage on shares of Goodyear Tire & Rubber in a report on Monday, April 11th. They issued a “neutral” rating for the company. Citigroup reduced their price target on shares of Goodyear Tire & Rubber from $19.00 to $15.00 in a report on Monday, May 16th. Nomura upgraded shares of Goodyear Tire & Rubber from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.00 to $15.30 in a report on Tuesday, May 10th. Finally, Exane BNP Paribas began coverage on shares of Goodyear Tire & Rubber in a report on Monday, April 11th. They issued a “neutral” rating for the company. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Goodyear Tire & Rubber has an average rating of “Hold” and a consensus target price of $17.19.

Goodyear Tire & Rubber Company Profile

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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 equipment, and mining and industrial equipment 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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