|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||33.67 - 34.33|
|52 Week Range||15.13 - 38.05|
|Beta (5Y Monthly)||1.31|
|PE Ratio (TTM)||22.87|
|Forward Dividend & Yield||0.76 (2.30%)|
|Ex-Dividend Date||Apr 19, 2021|
|1y Target Est||N/A|
Rating Action: Moody's affirms Covestro's Baa2 rating, changes outlook to stableGlobal Credit Research - 31 Mar 2021Frankfurt am Main, March 31, 2021 -- Moody's Investors Service ("Moody's") today affirmed the Baa2 long term issuer and senior unsecured bond ratings of Covestro AG ("Covestro") and its (P)Baa2 senior unsecured MTN programme rating. The outlook on all ratings was changed to stable from negative.RATINGS RATIONALEThe affirmation of its Baa2 rating reflects Covestro's strong performance in the second half of 2020 resulting in full-year 2020 EBITDA of nearly E1.5 billion, only around E100 million lower than in 2019. Whilst Moody's believes that most of the temporary savings Covestro had achieved in 2020 are likely to reverse in 2021, EBITDA in 2021 and beyond will benefit from structural and more permanent savings stemming from Covestro's "Perspective" and "LEAP" programmes.
Covestro (COVTY) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
The Zacks Analyst Blog Highlights: Westlake Chemical, Trinseo, JSR Corp, Covestro and Victrex