Covestro AG (OTCMKTS:COVTY) Receives Average Rating of “Hold” from Brokerages

Posted by on Jun 8th, 2023

Covestro AG (OTCMKTS:COVTY – Get Rating) has earned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $41.20.

Separately, Morgan Stanley cut Covestro from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, April 11th.

Covestro Stock Up 0.7 %

Shares of COVTY opened at $20.83 on Thursday. Covestro has a 1 year low of $13.70 and a 1 year high of $24.06. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.27 and a current ratio of 2.20. The stock’s fifty day moving average price is $20.79 and its two-hundred day moving average price is $20.88.

Covestro (OTCMKTS:COVTY – Get Rating) last announced its quarterly earnings results on Friday, April 28th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.04. The company had revenue of $4.02 billion during the quarter. Covestro had a negative return on equity of 5.41% and a negative net margin of 4.07%. As a group, equities research analysts anticipate that Covestro will post 0.47 earnings per share for the current year.

About Covestro

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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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Analyst Recommendations for Covestro (OTCMKTS:COVTY)

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