Continental (OTCMKTS:CTTAY) Shares Gap Down – Here’s What Happened

Shares of Continental AG (OTCMKTS:CTTAY) gapped down before the market opened on Tuesday . The stock had previously closed at $7.9750, but opened at $7.67. Continental shares last traded at $7.97, with a volume of 818 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Continental from a “hold” rating to a “buy” rating in a report on Monday, November 24th. Deutsche Bank Aktiengesellschaft upgraded Continental from a “hold” rating to a “buy” rating in a report on Friday, October 17th. Barclays downgraded Continental from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 10th. Citigroup reissued a “buy” rating on shares of Continental in a research note on Thursday, November 13th. Finally, Oddo Bhf upgraded shares of Continental to a “neutral” rating in a report on Monday, September 1st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Continental Price Performance

The company has a market capitalization of $16.09 billion, a PE ratio of 50.28, a P/E/G ratio of 1.60 and a beta of 1.32. The firm has a fifty day simple moving average of $7.60 and a 200 day simple moving average of $8.05. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.90 and a current ratio of 1.32.

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