Covestro (OTCMKTS:COVTY) Shares Gap Down - Here's What Happened

Key Points

• Covestro shares gapped down from a previous close of $33.79 to an open of $32.63, reflecting a decline of approximately 4.5%.
• The company's quarterly earnings report indicated a loss of ($0.18) EPS, with a negative return on equity of 5.68% and a negative net margin of 2.68%.
• Covestro has a market cap of $12.20 billion and operates in high-tech polymer materials, serving various industries including construction and automotive.

Covestro AG Sponsored ADR (OTCMKTS:COVTY - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $33.79, but opened at $32.63. Covestro shares last traded at $32.72, with a volume of 1,686 shares.

Covestro Trading Down 4.5%

The company has a current ratio of 1.32, a quick ratio of 0.71 and a debt-to-equity ratio of 0.30. The business's 50 day moving average price is $34.70 and its 200-day moving average price is $33.83. The company has a market cap of $12.19 billion, a price-to-earnings ratio of -29.86 and a beta of 0.97.

Covestro (OTCMKTS:COVTY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.18) earnings per share for the quarter. Covestro had a negative return on equity of 5.68% and a negative net margin of 2.68%. On average, equities analysts anticipate that Covestro AG Sponsored ADR will post 0.03 EPS for the current fiscal 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.