Covestro (OTCMKTS:COVTY) Reaches New 1-Year Low at $18.86

Covestro AG (OTCMKTS:COVTYGet Rating) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $18.86 and last traded at $19.08, with a volume of 53911 shares trading hands. The stock had previously closed at $20.75.

A number of equities research analysts have recently issued reports on COVTY shares. Morgan Stanley dropped their target price on shares of Covestro from €64.00 ($66.67) to €62.00 ($64.58) in a report on Monday, March 28th. UBS Group decreased their target price on shares of Covestro from €43.00 ($44.79) to €42.00 ($43.75) in a research report on Thursday, May 19th. JPMorgan Chase & Co. decreased their target price on Covestro from €62.00 ($64.58) to €58.50 ($60.94) and set a “neutral” rating for the company in a report on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Covestro from €72.00 ($75.00) to €60.00 ($62.50) in a report on Wednesday, May 4th. Finally, Stifel Nicolaus cut shares of Covestro from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to, Covestro has a consensus rating of “Buy” and an average price target of $56.75.

The stock has a fifty day moving average of $21.89 and a two-hundred day moving average of $26.25. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 4.92, a price-to-earnings-growth ratio of 0.19 and a beta of 1.23. The company has a quick ratio of 1.30, a current ratio of 2.13 and a debt-to-equity ratio of 0.32.

The firm also recently disclosed a dividend, which was paid on Friday, May 6th. Investors of record on Monday, April 25th were issued a $1.3605 dividend. This represents a dividend yield of 5.92%. The ex-dividend date of this dividend was Friday, April 22nd. Covestro’s payout ratio is 34.02%.

Covestro Company Profile (OTCMKTS:COVTY)

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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