Continental (CTTAY) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Continental (OTCMKTS:CTTAY) from a sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Continental AG manufactures tires, automotive parts and industrial products. The Company’s operating segment consists of Chassis and Safety segment, which develops and produces systems for the automotive industry; Powertrain segment, which integrates system solutions for the powertrain and vehicles of all categories; Interior segment, which offers solutions for information management in order to network drivers and passengers with their own and other vehicles, Tires segment, which offers tires for passenger cars, trucks, buses, construction side vehicles, industrial vehicles, bicycles and motorcycles and ContiTech segment, which develops products made from rubber and plastic. Continental AG is headquartered in Hanover, Germany. “
Several other brokerages also recently issued reports on CTTAY. JPMorgan Chase & Co. downgraded Continental from an overweight rating to a hold rating in a research note on Tuesday, August 28th. BNP Paribas downgraded Continental from a neutral rating to an underperform rating in a research note on Thursday, October 4th. Goldman Sachs Group downgraded Continental to a buy rating in a research note on Tuesday, October 16th. Citigroup downgraded Continental from a buy rating to a neutral rating in a research note on Thursday, November 15th. Finally, Jefferies Financial Group downgraded Continental from a buy rating to a hold rating in a research note on Tuesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $69.00.
Continental (OTCMKTS:CTTAY) last announced its quarterly earnings data on Thursday, November 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.11. The firm had revenue of $12.54 billion during the quarter, compared to the consensus estimate of $12.39 billion. Continental had a return on equity of 17.66% and a net margin of 6.63%. On average, research analysts forecast that Continental will post 1.62 earnings per share for the current year.
Continental Aktiengesellschaft provides products and services primarily for the automotive industry worldwide. It operates through Chassis&Safety, Powertrain, Interior, Tires, and ContiTech segments. The Chassis&Safety segment develops, produces, and markets intelligent systems to enhance driving safety and vehicle dynamics.
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