NEW YORK (TheStreet) -- Shares of Goodyear Tire & Rubber Co. (GT - Get Report) are higher by 3.47% to $26.81 in pre-market trading on Tuesday morning, after the tire manufacturer reported a spike in its 2014 fourth quarter earnings results.
For the most recent quarter Goodyear said it earned $2.1 billion, or $7.68 per share compared to $228 million, or 84 cents per share for the 2013 fourth quarter.
Adjusted earnings were 59 cents per share, while analysts were expecting 58 cents for the latest quarter.
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Goodyear's 2014 fourth quarter sales were $4.4 billion versus the $4.8 billion reported for the same period last year.
Goodyear believes it is on track to grow its operating income by 10% to 15% in 2015 "despite severe headwinds from the increasing strength of the U.S. dollar," company CEO Richard Kramer said.
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 several positive factors, 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 increase in stock price during the past year, good cash flow from operations and notable return on equity. We feel these 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 Ratings ReportGT data by YCharts