Why Goodyear Tire & Rubber Company's Stock Just Crashed 11.1%
Shares of Goodyear Tire & Rubber (NASDAQ: GT) stock are down 11.1% as of 1:30 p.m. EDT.
If you guessed that earnings are to blame -- ding-ding-ding! -- you're right. Goodyear reported its Q2 2017 earnings this morning, and the news failed to measure up to Wall Street expectations. Heading into earnings season, analysts had hoped Goodyear would report at least $0.72 per share in "pro forma" earnings. Instead, Goodyear reported $0.70 -- and only $0.58 per share on a GAAP (generally accepted accounting principles) basis.
Sales also failed to live up to expectations, coming in below $3.7 billion when $3.75 billion had been expected.
Source: Fool.com
The Goodyear Tire & Rubber Co. Stock
€12.00
-1.030%
The Goodyear Tire & Rubber Co. is currently one of the favorites of our community with 7 Buy predictions and no Sell predictions.
With a target price of 15 € there is a positive potential of 25.0% for The Goodyear Tire & Rubber Co. compared to the current price of 12.0 €.
