Goodyear Tire & Rubber has been named the Zacks Bear of the Day as earnings estimates deteriorate sharply. Current year EPS estimates have fallen 157% into deeply negative territory, while next year estimates are down 27%, earning the stock a Zacks Rank #5 (Strong Sell). Sales are projected to decline 3% this year before a modest 2% recovery next year, and the stock is approaching multi-decade lows amid soft tire demand and competitive pressure. Until the company demonstrates sustained volume recovery, margin improvement, and positive estimate revisions, the setup remains weak.
Goodyear Tire & Rubber CoSoft tire demand and competitive pressure cited as key factors driving earnings estimate plunge.