Why Goodyear Tire & Rubber Stock Plunged 15.9% Today
Shares of Goodyear Tire Rubber (NASDAQ: GT) plunged as much as 16.7% in trading on Thursday after reporting second-quarter 2024 financial results. The stock closed down 15.9% on the day.
Revenue for the quarter was $4.57 billion, down from $4.87 billion a year ago. But the company swung from a loss of $208 million to a profit of $85 million, or $0.30 per share.
Earnings on an adjusted basis of $0.19 per share topped analysts' $0.14 estimate, but revenue was a different story. Wall Street was expecting $4.78 billion in revenue, which the company fell well short of.
Source Fool.com
The Goodyear Tire & Rubber Co. Stock
€8.48
-7.250%
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 hugely positive potential of 76.89% for The Goodyear Tire & Rubber Co. compared to the current price of 8.48 €.
