Bridgestone (OTCMKTS:BRDCY) Downgraded by Sanford C. Bernstein to “Hold”

Sanford C. Bernstein downgraded shares of Bridgestone (OTCMKTS:BRDCY) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

A number of other brokerages also recently commented on BRDCY. The Goldman Sachs Group downgraded Bridgestone from a “strong-buy” rating to a “neutral” rating in a research report on Wednesday, June 17th. Zacks Research upgraded Bridgestone from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Bridgestone has an average rating of “Moderate Buy”.

Bridgestone Stock Down 0.6%

BRDCY stock opened at $12.84 on Wednesday. The stock has a market capitalization of $34.26 billion, a P/E ratio of 20.06, a PEG ratio of 1.19 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 2.71. Bridgestone has a one year low of $9.15 and a one year high of $13.64. The company has a 50 day moving average price of $11.45 and a two-hundred day moving average price of $11.08.

Bridgestone (OTCMKTS:BRDCY) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.87 billion. As a group, sell-side analysts expect that Bridgestone will post 0.89 EPS for the current year.

Bridgestone Company Profile

Bridgestone Corporation is a Japanese multinational company principally engaged in the design, manufacture and sale of tires and rubber products. Founded in 1931 by Shojiro Ishibashi and headquartered in Tokyo, the company has grown into one of the world’s largest tire manufacturers, offering products for a broad range of vehicles and applications.

The company’s core offerings include tires for passenger cars, motorcycles, commercial trucks and buses, agricultural and off‑the‑road equipment, and aircraft.