Research Analysts Offer Predictions for Covestro AG’s Q1 2021 Earnings (OTCMKTS:COVTY)

Covestro AG (OTCMKTS:COVTY) – Stock analysts at Jefferies Financial Group decreased their Q1 2021 earnings per share (EPS) estimates for Covestro in a research note issued on Tuesday, April 13th. Jefferies Financial Group analyst L. Alexander now expects that the company will earn $1.12 per share for the quarter, down from their prior forecast of $1.15. Jefferies Financial Group also issued estimates for Covestro’s Q2 2021 earnings at $1.15 EPS and Q4 2021 earnings at $0.40 EPS.

Several other research firms also recently weighed in on COVTY. Berenberg Bank reissued a “hold” rating on shares of Covestro in a research note on Friday, February 26th. Zacks Investment Research raised shares of Covestro from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Friday, February 26th. Morgan Stanley reaffirmed an “overweight” rating on shares of Covestro in a research note on Tuesday. Barclays reaffirmed an “overweight” rating on shares of Covestro in a research note on Thursday, February 25th. Finally, Citigroup downgraded shares of Covestro from a “buy” rating to a “sell” rating in a research note on Monday, March 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $42.00.

OTCMKTS:COVTY opened at $34.18 on Friday. The company’s 50-day moving average price is $34.73 and its 200-day moving average price is $30.99. The company has a current ratio of 3.03, a quick ratio of 2.10 and a debt-to-equity ratio of 0.56. The company has a market cap of $13.21 billion, a P/E ratio of 57.94, a P/E/G ratio of 3.25 and a beta of 1.53. Covestro has a twelve month low of $15.13 and a twelve month high of $38.05.

Covestro (OTCMKTS:COVTY) last announced its earnings results on Tuesday, February 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.12. Covestro had a net margin of 1.82% and a return on equity of 3.62%. The business had revenue of $3.59 billion for the quarter.

The company also recently declared a dividend, which will be paid on Monday, May 3rd. Investors of record on Tuesday, April 20th will be paid a $1.4705 dividend. The ex-dividend date of this dividend is Monday, April 19th. This represents a dividend yield of 4.09%. Covestro’s payout ratio is 29.59%.

Covestro Company Profile

Covestro AG develops, produces, and markets polymer materials for various industries worldwide. The company operates in three segments: Polyurethanes; Polycarbonates; and Coatings, Adhesives, Specialties (CAS). The Polyurethanes segment develops, produces, and markets chemical precursors, such as diphenylmethane diisocyanate, toluene diisocyanate, and polyether polyol, which are used primarily in the furniture, construction, and automotive industries.

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Earnings History and Estimates for Covestro (OTCMKTS:COVTY)

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