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

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

Wall Street Analyst Weigh In

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

Covestro Stock Up 1.3%

The firm has a market cap of $13.40 billion, a PE ratio of -26.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.39 and a quick ratio of 0.74. The business has a fifty day moving average price of $34.41 and a two-hundred day moving average price of $34.48.

Covestro (OTCMKTS:COVTY) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. The firm 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 7.07% and a negative net margin of 3.34%. On average, analysts anticipate that Covestro AG Sponsored ADR will post 0.03 EPS for the current fiscal year.

About Covestro

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.