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According to The Fly, Covestro (OTCMKTS:COVTY) lowered its target price from UBS analysts from 61.00 euros (68.54 US dollars) to 53.00 euros (59.55 US dollars) in a report sent to investors on Wednesday. . The company currently has a "neutral" rating on the stock.
COVTY has been the subject of many other research reports. JPMorgan Chase upgraded Covestro from a "underweight" rating to a "neutral" rating in a research report on Tuesday. Zacks Investment Research downgraded Covestro's rating from a "strong buy" rating to a "hold" rating in a research report on Tuesday, November 16. HSBC upgraded Covestro's rating from "hold" to "buy" in a research report on Thursday, November 18. Barclays Bank raised Covestro's target price from 71.00 euros (79.78 US dollars) to 72.00 euros (80.90 US dollars), and gave the stock an "overweight" rating in its research report on Friday, October 8. Finally, in a research report on Monday, October 18th, Societe Generale downgraded Covestro's rating from a "buy" rating to a "hold" rating. A stock research analyst rated the company's stock as sell, six gave a hold rating, and six gave a buy rating. According to MarketBeat.com data, the company's current consensus rating is "Hold", with an average target price of $54.33.
COVTY stock price rose by US$0.56 in midday trading on Wednesday to reach US$29.45. The company's stock trading volume was 50,179 shares, while its average trading volume was 22,051 shares. Covestro's 12-month low is 28.03 USD and the 12-month high is 38.05 USD. The stock has a market value of 11.38 billion U.S. dollars, a price-to-earnings ratio of 7.59, a price-to-earnings ratio of 0.18, and a beta of 1.29. The company's debt-to-equity ratio is 0.35, current ratio is 1.91, and quick ratio is 1.22. The company's 50-day moving average is $32.00, and its 200-day moving average is $32.74.
Covestro (OTCMKTS:COVTY) last released quarterly earnings data on Monday, November 8. The company reported earnings per share of $1.44 for the quarter. Covestro's return on equity is 20.12%, and its net profit margin is 8.90%. The business's revenue this quarter was 5.07 billion U.S. dollars, and the market generally expected it to be 5 billion U.S. dollars. As a whole, sell-side analysts expect Covestro’s earnings per share for this fiscal year to reach 4.8 times.
Covestro AG develops, produces and sells polymer materials for various industries. The company operates three divisions: polyurethane; polycarbonate; and coatings, adhesives, and specialty materials (CAS). The polyurethane department develops, produces and sells chemical precursors such as diphenylmethane diisocyanate, toluene diisocyanate and polyether polyols, which are mainly used in the furniture, construction and automotive industries.
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