Bridgestone Corporation is set to announce its quarterly earnings before the market opens on November 17, 2023. Analysts anticipate the company will report earnings of $0.3650 per share and revenue of approximately $7.3906 billion for the period. This announcement is particularly significant for investors as it could impact the company’s stock performance in the upcoming trading sessions.
Shares of Bridgestone, traded under the ticker symbol OTCMKTS:BRDCY, opened at $23.58 on Friday. Over the past year, the stock has experienced a notable range, with a low of $15.90 and a high of $24.54. Currently, the company 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. Additionally, Bridgestone’s beta stands at 0.50, indicating lower volatility compared to the broader market.
Financial Health Indicators
Bridgestone’s financial health is further demonstrated by its debt-to-equity ratio of 0.17, a current ratio of 2.51, and a quick ratio of 1.69. These metrics suggest a strong liquidity position, allowing the company to meet its short-term obligations effectively. As of now, the fifty-day moving average price is $22.84, while the 200-day moving average price is $21.76, reflecting positive trends in its stock performance.
Analysts are optimistic about Bridgestone’s future, with CLSA upgrading the company to a “strong-buy” rating in a recent research note published on October 1. MarketBeat data indicates that there is a consensus rating of “Strong Buy” from analysts covering the stock, suggesting a high level of confidence in Bridgestone’s growth prospects.
About Bridgestone Corporation
Founded in Japan, Bridgestone Corporation specializes in manufacturing and selling tires and rubber products. The company produces a wide range of products, including tires for passenger vehicles, trucks, buses, construction and mining vehicles, as well as motorcycles and aircraft. In addition to tire manufacturing, Bridgestone provides automotive parts, maintenance and repair services, and raw materials for various products.
Investors and industry analysts alike are keenly awaiting the upcoming earnings report, which will provide insights into Bridgestone’s operational performance and future direction. As the company prepares to share its financial results, the market will closely monitor these developments to gauge the potential impact on its stock and overall market position.
