Continental (OTCMKTS:CTTAY) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Shares of Continental AG (OTCMKTS:CTTAY) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $8.19 and traded as low as $7.8690. Continental shares last traded at $7.87, with a volume of 56,624 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTTAY. Kepler Capital Markets lowered shares of Continental from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Continental in a research note on Thursday, July 2nd. Finally, Citigroup reiterated a “buy” rating on shares of Continental in a research note on Friday, June 12th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Continental presently has a consensus rating of “Hold”.

Continental Stock Up 0.5%

The stock has a market capitalization of $15.74 billion, a price-to-earnings ratio of -26.23, a price-to-earnings-growth ratio of 1.07 and a beta of 1.39. The firm has a 50 day simple moving average of $8.19 and a 200-day simple moving average of $7.97. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.25 and a quick ratio of 0.82.

Continental (OTCMKTS:CTTAY) last posted its earnings results on Tuesday, August 4th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Continental had a negative return on equity of 10.93% and a negative net margin of 1.36%.The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.03 billion. On average, sell-side analysts forecast that Continental AG will post 0.67 EPS for the current fiscal year.

About Continental

Continental AG, trading on the OTC market under the ticker CTTAY, is a global technology company renowned for its wide range of automotive and industrial products. The company’s core businesses include the design, development, and manufacturing of tires for passenger cars, commercial trucks, and specialty applications, as well as advanced automotive systems such as braking solutions, vehicle stability controls, sensors and electronic safety devices.

Founded in 1871 and headquartered in Hanover, Germany, Continental began as a rubber manufacturer before pioneering pneumatic tires in the late 19th century.