Posted by admin on Jul 15th, 2022
Shares of Covestro AG (OTCMKTS:COVTY – Get Rating) reached a new 52-week low during mid-day trading on Thursday after Barclays lowered their price target on the stock from €71.00 to €60.00. Barclays currently has an overweight rating on the stock. Covestro traded as low as $15.64 and last traded at $15.97, with a volume of 73573 shares. The stock had previously closed at $16.28.
Other equities research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Covestro from €72.00 ($72.00) to €60.00 ($60.00) in a research report on Wednesday, May 4th. Stifel Nicolaus downgraded shares of Covestro from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. UBS Group cut their price target on shares of Covestro from €43.00 ($43.00) to €42.00 ($42.00) in a report on Thursday, May 19th. Societe Generale cut their price target on shares of Covestro from €56.00 ($56.00) to €45.00 ($45.00) and set a “hold” rating on the stock in a report on Wednesday, May 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Covestro from €62.00 ($62.00) to €58.50 ($58.50) and set a “neutral” rating on the stock in a report on Wednesday, May 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.58.
The business’s 50 day moving average is $19.89 and its 200-day moving average is $24.66. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 4.12, a price-to-earnings-growth ratio of 0.17 and a beta of 1.31.
The company also recently announced a dividend, which was paid on Friday, May 6th. Investors of record on Monday, April 25th were paid a $1.3605 dividend. The ex-dividend date was Friday, April 22nd. This represents a yield of 5.92%. Covestro’s payout ratio is presently 34.02%.
Covestro AG supplies high-tech polymer materials and related 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.
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