Covestro (OTCMKTS:COVTY) Shares Up 0.3% – Here’s Why

Covestro AG (OTCMKTS:COVTY)’s stock price traded up 0.3% during trading on Friday . The stock traded as high as $30.20 and last traded at $30.09. 12,043 shares changed hands during trading, a decline of 54% from the average session volume of 26,096 shares. The stock had previously closed at $30.01.

Analysts Set New Price Targets

A number of research firms recently issued reports on COVTY. Barclays raised Covestro to a “hold” rating in a research note on Wednesday, October 9th. Citigroup raised Covestro to a “hold” rating in a research note on Thursday, October 3rd.

Covestro Trading Up 0.3 %

The company has a market cap of $11.37 billion, a PE ratio of -40.66 and a beta of 1.18. The business has a 50 day simple moving average of $31.19 and a two-hundred day simple moving average of $29.34.

Covestro (OTCMKTS:COVTY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.09 EPS for the quarter. The firm had revenue of $3.96 billion for the quarter. On average, equities research analysts expect that Covestro AG will post 0.03 earnings per share 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.