Goodyear Tire & Rubber (NASDAQ:GT) Posts Earnings Results, Beats Estimates By $0.11 EPS

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) posted its quarterly earnings data on Monday. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.11, Briefing.com reports. The company had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.38 billion. Goodyear Tire & Rubber had a negative return on equity of 1.03% and a negative net margin of 2.47%. Goodyear Tire & Rubber’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share.

Goodyear Tire & Rubber Stock Up 1.3 %

Shares of NASDAQ:GT traded up $0.17 during midday trading on Monday, reaching $13.63. The company’s stock had a trading volume of 8,999,653 shares, compared to its average volume of 3,911,667. Goodyear Tire & Rubber has a fifty-two week low of $9.85 and a fifty-two week high of $16.50. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.70 and a current ratio of 1.30. The business’s fifty day simple moving average is $14.06 and its 200-day simple moving average is $13.35.

Insider Activity

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

Hedge Funds Weigh In On Goodyear Tire & Rubber

Hedge funds have recently added to or reduced their stakes in the company. Ancora Advisors LLC boosted its holdings 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 buying an additional 1,000 shares during the last quarter. First Manhattan Co. bought a new position in Goodyear Tire & Rubber during the fourth quarter worth about $31,000. Steward Partners Investment Advisory LLC raised its position in shares of Goodyear Tire & Rubber by 27.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 4,018 shares of the company’s stock worth $44,000 after purchasing an additional 862 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of Goodyear Tire & Rubber by 79.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,784 shares of the company’s stock worth $58,000 after purchasing an additional 2,554 shares during the period. Finally, Money Concepts Capital Corp acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth about $82,000. Institutional investors own 80.05% of the company’s stock.

Wall Street Analyst Weigh In

GT has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Goodyear Tire & Rubber from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, November 16th. HSBC initiated coverage on Goodyear Tire & Rubber in a research note on Monday, December 4th. They issued a “buy” rating and a $16.80 target price for the company. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $21.00 in a research note on Thursday, November 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Moderate Buy” and a consensus price target of $17.16.

Read Our Latest Research Report on GT

About Goodyear Tire & Rubber

(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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