Continental (OTCMKTS:CTTAY) Shares Gap Down on Analyst Downgrade

Continental AG (OTCMKTS:CTTAY) shares gapped down prior to trading on Tuesday after Berenberg Bank downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $8.20, but opened at $7.90. Continental shares last traded at $7.92, with a volume of 10,954 shares changing hands.

Several other research firms have also recently issued reports on CTTAY. Citigroup reiterated a “buy” rating on shares of Continental in a research report on Thursday, November 13th. Jefferies Financial Group raised shares of Continental from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. Sanford C. Bernstein upgraded shares of Continental from an “underperform” rating to a “market perform” rating in a research report on Monday, January 5th. Zacks Research upgraded Continental from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. Finally, Barclays cut Continental from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Continental Trading Down 3.5%

The business has a 50 day simple moving average of $7.71 and a two-hundred day simple moving average of $8.02. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 1.25. The company has a market cap of $15.82 billion, a PE ratio of 49.44, a price-to-earnings-growth ratio of 0.77 and a beta of 1.30.

Continental (OTCMKTS:CTTAY) last released its earnings results on Thursday, November 6th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.17). Continental had a return on equity of 1.14% and a net margin of 0.91%.The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $4.93 billion. On average, analysts forecast that Continental AG will post 0.66 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.