Recent Analysts’ Ratings Changes for Covestro (COVTY)

Several analysts have recently updated their ratings and price targets for Covestro (OTCMKTS: COVTY):

  • 4/29/2021 – Covestro had its “neutral” rating reaffirmed by analysts at Credit Suisse Group AG.
  • 4/27/2021 – Covestro was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Covestro AG manufactures polymers and performance plastics. The Company manufactures, markets and distributes coatings, adhesives, insulating materials, sealants, polycarbonates and polyurethanes. It serves automotive, construction, health, electronics and medical engineering industries. Covestro AG is based in Leverkusen, Germany. “
  • 4/26/2021 – Covestro was upgraded by analysts at BNP Paribas from a “neutral” rating to an “outperform” rating.
  • 4/26/2021 – Covestro was upgraded by analysts at Exane BNP Paribas from a “neutral” rating to an “outperform” rating.
  • 4/13/2021 – Covestro had its “overweight” rating reaffirmed by analysts at Morgan Stanley.
  • 3/19/2021 – Covestro had its “sell” rating reaffirmed by analysts at UBS Group AG.
  • 3/8/2021 – Covestro was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “sell” rating.

OTCMKTS COVTY opened at $33.12 on Wednesday. Covestro AG has a 1 year low of $15.13 and a 1 year high of $38.05. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.03 and a quick ratio of 2.10. The stock has a market capitalization of $12.80 billion, a PE ratio of 56.14, a P/E/G ratio of 3.25 and a beta of 1.53. The company’s 50 day simple moving average is $33.66 and its two-hundred day simple moving average is $31.72.

Covestro (OTCMKTS:COVTY) last issued its quarterly earnings results on Tuesday, February 23rd. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.12. The firm had revenue of $3.59 billion for the quarter. Covestro had a net margin of 1.82% and a return on equity of 3.62%. On average, research analysts anticipate that Covestro AG will post 1.27 EPS for the current year.

The business also recently declared a dividend, which was paid on Monday, May 3rd. Stockholders of record on Tuesday, April 20th were issued a $1.4705 dividend. This represents a dividend yield of 4.09%. The ex-dividend date of this dividend was Monday, April 19th. Covestro’s payout ratio is 32.54%.

Covestro AG develops, produces, and markets polymer materials for various industries. The company operates in three segments: Polyurethanes; Polycarbonates; and Coatings, Adhesives, Specialties (CAS). The Polyurethanes segment develops, produces, and markets chemical precursors, such as diphenylmethane diisocyanate, toluene diisocyanate, and polyether polyol, which are used primarily in the furniture, construction, and automotive industries.

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