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

Shares of Covestro AG (OTCMKTS:COVTY) reached a new 52-week high on Monday . The stock 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 Price Performance

The stock’s fifty day simple moving average is $31.54 and its two-hundred day simple moving average is $30.68. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of -44.33 and a beta of 1.05.

Covestro (OTCMKTS:COVTY) last released its quarterly earnings data 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 company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.95 billion. On average, sell-side analysts predict that Covestro AG will post 0.03 EPS for the current year.

About Covestro

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.