Citigroup Upgrades Covestro (OTCMKTS:COVTY) to Hold

Citigroup upgraded shares of Covestro (OTCMKTS:COVTY) to a hold rating in a report issued on Thursday morning, Zacks.com reports.

Covestro Price Performance

OTCMKTS:COVTY traded down $0.15 during mid-day trading on Thursday, reaching $32.03. The stock had a trading volume of 4,132 shares, compared to its average volume of 28,911. Covestro has a twelve month low of $24.12 and a twelve month high of $32.60. The business has a 50 day simple moving average of $30.27 and a 200 day simple moving average of $28.39.

Covestro (OTCMKTS:COVTY) last issued its earnings results on Tuesday, July 30th. The company reported ($0.20) earnings per share (EPS) for the quarter. The firm had revenue of $3.97 billion during the quarter. Research analysts predict that Covestro will post 0.03 earnings per share 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.