NEW YORK (TheStreet) -- Goodyear Tire (GT) - Get Report stock is down by 4.77% to $31.75 in late afternoon trading on Thursday, following the release of the company's 2015 third quarter financial results.
The tire manufacturer reported earnings of 99 cents per share for the most recent quarter, up from 58 cents per share for the year ago period.
Revenue declined by 10% year over year, to $4.18 billion from $4.66 billion in the 2014 third quarter.
Analysts surveyed by Thomson Reuters had forecast for earnings of 97 cents per share on revenue of $4.22 billion.
"Our third quarter results demonstrate continued sustainable earnings growth and our sharp focus on disciplined execution of our strategy in both strong and challenging markets," CEO Richard Kramer said in a statement. "With our strong year-to-date performance, we now see full-year segment operating income tracking to $2 billion, which would be more than double what we achieved just five years ago."
Separately, TheStreet Ratings team rates GOODYEAR TIRE & RUBBER CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate GOODYEAR TIRE & RUBBER CO (GT) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity, attractive valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: GT