Covestro (OTCMKTS:COVTY) Releases Quarterly Earnings Results, Misses Expectations By $0.30 EPS

Covestro (OTCMKTS:COVTY) released its quarterly earnings results on Wednesday. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.30), Zacks reports. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.95 billion.

Covestro Trading Down 0.3 %

COVTY opened at $30.51 on Friday. Covestro has a twelve month low of $24.12 and a twelve month high of $32.60. The firm has a market cap of $11.53 billion, a price-to-earnings ratio of -41.23 and a beta of 1.17. The company has a fifty day simple moving average of $29.63 and a 200 day simple moving average of $30.33.

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.