Covestro (OTCMKTS:COVTY) Trading 1.8% Higher – Still a Buy?

Covestro AG Sponsored ADR (OTCMKTS:COVTY)’s stock price rose 1.8% during mid-day trading on Wednesday . The stock traded as high as $34.49 and last traded at $34.4850. Approximately 2,698 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 4,301 shares. The stock had previously closed at $33.88.

Covestro Trading Up 1.8%

The company has a market cap of $14.32 billion, a price-to-earnings ratio of -13.63 and a beta of 0.95. The business has a fifty day simple moving average of $34.81 and a 200 day simple moving average of $34.64. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 0.24.

Covestro (OTCMKTS:COVTY) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($1.67). Covestro had a negative net margin of 6.97% and a negative return on equity of 13.22%. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.42 billion. On average, equities analysts anticipate that Covestro AG Sponsored ADR will post 0.03 EPS 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.