Goodyear Tire & Rubber Co (GT) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $1.16 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $1.02. The company posted revenue of $3879.00 million in the period, compared to analysts expectations of $3921.47 million. The company’s revenue was down -7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.
Many Wall Street Analysts have commented on Goodyear Tire & Rubber Co. Goodyear Tire & Rubber Co was Upgraded by Standpoint Research to ” Buy” on May 20, 2016.
Goodyear Tire & Rubber Co closed down -0.35 points or -1.20% at $28.74 with 39,53,517 shares getting traded on Thursday. Post opening the session at $28.81, the shares hit an intraday low of $28.3111 and an intraday high of $28.83 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 6, 2016, Michael J Morell (director) purchased 875 shares at $27.99 per share price. According to the SEC, on Mar 7, 2016, Gregory L Smith (Sr VP, Global Operations) sold 21,635 shares at $32.00 per share price. On Feb 3, 2016, Richard J Kramer (Chairman of the Bd, CEO & Pres) sold 29,000 shares at $28.04 per share price, according to the Form-4 filing with the securities and exchange commission.
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Company’s business is the development manufacture distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe Middle East and Africa (EMEA); Latin America and Asia Pacific. The North America segment is a supplier of tires to manufacturers of automobiles motorcycles trucks and aircraft. The EMEA segment is a supplier of tires to vehicle manufacturers across the region. The Latin America segment manufactures and sells automobile and truck tires. The Asia Pacific segment sells primarily Goodyear brand tires throughout the region and also sells the Dunlop brand in Australia and New Zealand. The Company manufactures and sells tires under the Goodyear Dunlop Kelly Debica Sava and Fulda brands and various other Goodyear owned-house brands and the private-label brands of certain customers.