Covestro (OTCMKTS:COVTY) Stock Price Up 1.8% – Here’s Why

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

Covestro Stock Up 1.8%

The firm’s fifty day simple moving average is $34.81 and its 200-day simple moving average is $34.64. The company has a market cap of $14.32 billion, a PE ratio of -13.63 and a beta of 0.95. 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 issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($1.67). Covestro had a negative return on equity of 13.22% and a negative net margin of 6.97%.The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.42 billion. As a group, equities research analysts expect that Covestro AG Sponsored ADR will post 0.03 earnings per share for the current fiscal year.

About Covestro

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.