Covestro (OTCMKTS:COVTY) Trading Up 1.3% – Still a Buy?

Covestro AG Sponsored ADR (OTCMKTS:COVTY) was up 1.3% during trading on Friday . The stock traded as high as $35.44 and last traded at $35.44. Approximately 7,329 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 6,267 shares. The stock had previously closed at $35.00.

Analyst Ratings Changes

Separately, Alembic Global Advisors downgraded shares of Covestro to a “hold” rating in a report on Monday, October 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Covestro Trading Up 1.3%

The company has a 50 day moving average of $34.41 and a 200 day moving average of $34.47. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.74 and a current ratio of 1.39. The stock has a market capitalization of $13.40 billion, a price-to-earnings ratio of -26.85 and a beta of 0.98.

Covestro (OTCMKTS:COVTY) last announced its earnings results on Thursday, October 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Covestro had a negative net margin of 3.34% and a negative return on equity of 7.07%. On average, research analysts predict that Covestro AG Sponsored ADR will post 0.03 EPS for the current fiscal year.

Covestro Company Profile

Covestro AG supplies high-tech polymer materials and application solutions. It operates in two segments, Performance Materials, and Solutions & Specialties. The Performance Materials segment develops, produces, and supplies high-performance materials, such as polyurethanes and polycarbonates, and base chemicals, which include diphenylmethane diisocyanate (MDI), toluylene diisocyanate, long-chain polyols, and polycarbonate resins for use in furniture and wood processing, construction, automotive, and transportation industries, as well as roof structures, insulation for buildings and refrigerators, mattresses, car seats, and other applications.