Covestro (OTCMKTS:COVTY) Posts Earnings Results, Misses Estimates By $0.30 EPS

Covestro (OTCMKTS:COVTY) released its earnings results on Wednesday. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.30), Zacks reports.

Covestro Stock Performance

Shares of OTCMKTS COVTY traded up $0.15 during midday trading on Wednesday, reaching $30.81. The stock had a trading volume of 12,029 shares, compared to its average volume of 10,434. The company has a market capitalization of $11.65 billion, a price-to-earnings ratio of -41.64 and a beta of 1.17. Covestro has a 12-month low of $24.12 and a 12-month high of $32.60. The stock has a 50-day moving average of $29.58 and a 200-day 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.