Bridgestone Corporation is set to release its earnings report on November 17, 2023, before markets open. Analysts are predicting earnings of $0.365 per share and a revenue of $7.3906 billion for the quarter. This announcement comes as investors closely monitor the company’s financial performance amid fluctuating market conditions.
On Friday, Bridgestone shares opened at $23.58. The company’s stock has experienced a significant range over the past year, with a low of $15.90 and a high of $24.54. Bridgestone currently holds a market capitalization of $32.30 billion, a price-to-earnings (P/E) ratio of 17.47, and a P/E growth (P/E/G) ratio of 1.38. The stock has a beta of 0.50, indicating lower volatility compared to the market.
Financial indicators reveal a solid position for Bridgestone. The company boasts a debt-to-equity ratio of 0.17, a current ratio of 2.51, and a quick ratio of 1.69. Additionally, the fifty-day moving average price stands at $22.84, while the 200-day moving average price is $21.76.
Analyst Upgrades and Market Sentiment
In a recent analysis, CLSA upgraded Bridgestone to a “strong-buy” rating. This update, issued on October 1, reflects increasing confidence among analysts regarding the company’s future performance. According to data from MarketBeat, Bridgestone enjoys a consensus rating of “Strong Buy” from analysts, highlighting a generally positive outlook for the company’s stock.
Bridgestone Corporation, through its subsidiaries, manufactures and sells a diverse range of tires and rubber products. The company’s offerings include tires for passenger cars, trucks, buses, construction vehicles, and even aircraft. Furthermore, Bridgestone provides automotive parts and maintenance services, along with raw materials used in tire production.
As the earnings announcement approaches, market participants will be keenly observing the results to gauge the company’s performance and future prospects. Investors are particularly interested in how Bridgestone plans to navigate current economic challenges while leveraging its strong product portfolio.
