Covestro (OTCMKTS:COVTY) Sets New 52-Week High – Time to Buy?

Covestro AG Sponsored ADR (OTCMKTS:COVTY)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $36.0250 and last traded at $36.0250, with a volume of 427 shares. The stock had previously closed at $35.64.

Analyst Ratings Changes

Separately, Alembic Global Advisors lowered Covestro to a “hold” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Covestro Trading Down 1.8%

The company has a current ratio of 1.36, a quick ratio of 0.73 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average is $34.63 and its two-hundred day moving average is $34.66. The firm has a market cap of $14.56 billion, a P/E ratio of -26.56 and a beta of 0.91.

Covestro (OTCMKTS:COVTY) last posted its earnings results on Thursday, October 30th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.02. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.69 billion. Covestro had a negative return on equity of 7.04% and a negative net margin of 3.34%. As a group, analysts expect that Covestro AG Sponsored ADR will post 0.03 earnings per share for the current fiscal year.

Covestro Company Profile

Covestro AG is a leading global manufacturer of high-performance polymer materials. Established in 2015 following its spin-off from Bayer MaterialScience, the company builds on a legacy of innovation dating back to the early 20th century. Covestro develops and produces a wide range of plastics and coatings designed to meet the evolving needs of various industrial sectors.

The company’s core product portfolio includes polyurethanes, polycarbonates and specialty coatings, adhesives, sealants and elastomers.