Covestro (OTCMKTS:COVTY) Sets New 52-Week High – Here’s Why

Covestro AG (OTCMKTS:COVTY) hit a new 52-week high on Monday . The company traded as high as $33.83 and last traded at $33.25, with a volume of 4756 shares trading hands. The stock had previously closed at $33.35.

Covestro Trading Down 0.3 %

The stock’s 50-day moving average is $31.54 and its 200-day moving average is $30.68. The stock has a market cap of $12.57 billion, a P/E ratio of -44.33 and a beta of 1.05.

Covestro (OTCMKTS:COVTY) last released its earnings results on Wednesday, February 26th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30). The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.95 billion. On average, equities analysts forecast that Covestro AG will post 0.03 EPS for the current year.

Covestro Company Profile

Covestro AG supplies high-tech polymer materials and 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.