Bridgestone (OTCMKTS:BRDCY) Sees Strong Trading Volume - Here's What Happened

Key Points

• Bridgestone Corp. experienced a significant spike in trading volume, with around 519,808 shares traded, marking a 455% increase from the previous session.
• CLSA upgraded Bridgestone to a "strong-buy" rating, contributing to the company's consensus rating of "Strong Buy" among analysts.
• In its recent earnings report, Bridgestone reported an EPS of $0.20, which missed analysts' estimates of $0.30, alongside a revenue of $7.17 billion, below expectations of $7.39 billion.

Bridgestone Corp. (OTCMKTS:BRDCY - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 519,808 shares were traded during mid-day trading, an increase of 455% from the previous session's volume of 93,592 shares.The stock last traded at $21.58 and had previously closed at $21.87.

Wall Street Analyst Weigh In

Separately, CLSA raised Bridgestone to a "strong-buy" rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Bridgestone has a consensus rating of "Strong Buy".

Bridgestone Trading Down 1.2%

The company has a quick ratio of 1.69, a current ratio of 2.51 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $22.94 and a 200 day moving average price of $21.36.

Bridgestone (OTCMKTS:BRDCY - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.10). The firm had revenue of $7.17 billion during the quarter, compared to analysts' expectations of $7.39 billion. On average, research analysts predict that Bridgestone Corp. will post 1.72 EPS for the current fiscal 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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