Bridgestone (OTCMKTS:BRDCY) Sees Large Volume Increase - Still a Buy?

Key Points

• Bridgestone shares experienced a significant volume increase of 146% on Monday, trading at $23.61 compared to the previous close of $23.29.
• CLSA upgraded Bridgestone to a "strong-buy" rating, contributing to an average rating of "Strong Buy" among analysts.
• The company reported $0.20 earnings per share for the latest quarter, missing expectations of $0.30, with revenue of $7.17 billion falling short of the $7.39 billion forecast.

Shares of Bridgestone Corp. (OTCMKTS:BRDCY - Get Free Report) saw strong trading volume on Monday . 209,301 shares changed hands during trading, an increase of 146% from the previous session's volume of 85,080 shares.The stock last traded at $23.61 and had previously closed at $23.29.

Analyst Upgrades and Downgrades

Separately, CLSA upgraded shares of Bridgestone to a "strong-buy" rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Strong Buy".

Bridgestone Stock Up 1.8%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.69 and a current ratio of 2.51. The business's 50 day moving average price is $22.66 and its 200-day moving average price is $21.25.

Bridgestone (OTCMKTS:BRDCY - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.10). The business had revenue of $7.17 billion for the quarter, compared to analysts' expectations of $7.39 billion. As a group, equities research analysts expect that Bridgestone Corp. will post 1.72 earnings per share for the current year.

About Bridgestone

Bridgestone Corporation, together with its subsidiaries, manufactures and sells tires and rubber products. The company offers tires and tire tubes for passenger cars, trucks, buses, construction and off-road mining vehicles, industrial and agricultural machinery, aircraft, motorcycles, scooters, and other vehicles; automotive parts; automotive maintenance and repair services; and raw materials for tires and other products.

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