Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Xetra  >  Covestro    1COV   DE0006062144

COVESTRO (1COV)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

Covestro replaces ProSieben in German blue-chip index

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/06/2018 | 09:50am CEST

FRANKFURT (Reuters) - Covestro (>> Covestro), a maker of materials for insulation foams and transparent plastics, will replace broadcaster ProSiebenSat.1 Media (>> ProSiebenSat.1 Media) in Germany's blue-chip DAX index <.GDAXI>, after Bayer (>> Bayer) sold off Covestro shares.

FRANKFURT (Reuters) - Covestro, a maker of materials for insulation foams and transparent plastics, will replace broadcaster ProSiebenSat.1 Media in Germany's blue-chip DAX index <.GDAXI>, after Bayer sold off Covestro shares.

The surprise switch was based on the fast-entry rule, stock exchange operator Deutsche Boerse said late on Monday, which allows a company to enter an index ahead of the stock exchange's regular review if it ranks among the biggest 25 companies in terms of market capitalisation and turnover.

Covestro shares gained 3.3 percent in early Tuesday trade, as the DAX inclusion qualifies the stock for funds that passively track the index and for large-cap portfolio managers that use the DAX as part of their investment universe. ProSieben shares slipped 0.2 percent.

Covestro's former parent Bayer last year sold 4.7 billion euros worth of shares in the plastics business to help finance its planned takeover of seeds company Monsanto, boosting the number of freely traded shares.

That reduced the stake held directly by Bayer to 14.2 percent and moved the drugs and pesticides maker closer to its planned exit of Covestro.

Covestro, formerly known Bayer MaterialScience, is generating cash faster than previously thought, helped by buoyant demand for materials that the chemicals industry is struggling to meet and amid limited opportunities to invest in new plants and equipment.

Its shares have gained almost 38 percent over the past six months, helped by a boost in earnings and a share buyback programme that will likely continue beyond 2019.

ProSieben will move to the MDAX index of Germany's 50 biggest companies below the blue-chip level.

The index changes will become effective on March 19. The next regular index review will be held on June 5.

Separately, Raymond James analyst Patrick Lambert lifted his recommendation for Covestro to "strong buy" from "outperform", citing the company's confident outlook for 2018 and the use of transparent polycarbonate plastics in cars and electronics.

"Covestro remains the cheapest stock in our sector on all metrics, trading at a 21 percent discount," he said.

(Reporting by Ludwig Burger and; Maria Sheahan; Editing by Mark Potter)

Stocks treated in this article : Bayer, Deutsche Boerse, ProSiebenSat.1 Media, Covestro
Stocks mentioned in the article
ChangeLast1st jan.
BAYER -1.61% 98.48 Delayed Quote.-2.22%
DAX -1.43% 12824.54 Delayed Quote.0.72%
DEUTSCHE BOERSE -0.91% 114.4 Delayed Quote.19.27%
MDAX -1.01% 26680.04 Delayed Quote.2.86%
PROSIEBENSAT.1 MEDIA -0.84% 23.67 Delayed Quote.-16.77%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on COVESTRO
12:10pCOVESTRO : Disclosure according to Art. 2 (3) of Commission Delegated Regulation..
EQ
06/14ADIDAS &LDQUO;TELSTAR 18&RDQUO; IS T : Advanced polyurethane materials for perfe..
PU
06/12COVESTRO AND UN ENVIRONMENT : Regional finalists chosen in 2018 Young Champions ..
PU
06/12COVESTRO : 35 Big Ideas Make It to UN Environment's Young Champions of the Earth..
AQ
06/11COVESTRO : Disclosure according to Art. 2 (3) of Commission Delegated Regulation..
EQ
06/08SIEMENS : and Covestro Bolster Partnership With Digitalization Plan
DJ
06/07COMPREHENSIVE PROGRAM SETS NEW STAND : Covestro to digitalize operations continu..
PU
06/04HANDOVER OF KEYS FOR NEW CLASSROOM T : School expansion in just a few weeks
PU
06/04COVESTRO AG : Release of a capital market information
EQ
06/04COVESTRO AWARDED IN GERMANY-WIDE IDE : Innovation prize for plastics from plants
PU
More news
News from SeekingAlpha
05/25Covestro (COVTY) Presents At Berenberg Conference USA, May-24-2018 - Slidesho.. 
05/24DowDuPont's Polyurethane Dominance An Underappreciated Growth Driver 
04/26Covestro AG ADR 2018 Q1 - Results - Earnings Call Slides 
03/28Covestro Aktiengesellschaft (CVVTF) Presents At Barclays Chemical And Ag ROC .. 
02/01BASF shuts down Louisiana TDI plant as raw material supply disrupted 
Financials (€)
Sales 2018 14 591 M
EBIT 2018 2 852 M
Net income 2018 2 005 M
Debt 2018 370 M
Yield 2018 3,28%
P/E ratio 2018 7,45
P/E ratio 2019 8,27
EV / Sales 2018 1,09x
EV / Sales 2019 1,06x
Capitalization 15 572 M
Chart COVESTRO
Duration : Period :
Covestro Technical Analysis Chart | 1COV | DE0006062144 | 4-Traders
Technical analysis trends COVESTRO
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 101 €
Spread / Average Target 31%
EPS Revisions
Managers
NameTitle
Markus Steilemann Chief Executive Officer
Richard Pott Chairman-Supervisory Board
Thomas Toepfer Chief Financial Officer
Klaus Schäfer Chief Technology Officer
Petra Kronen Vice Chairman-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
COVESTRO-10.61%18 078
LG CHEM LTD--.--%23 941
FORMOSA PLASTICS CORPORATION--.--%22 396
FORMOSA CHEMICALS & FIBRE CORPORATION--.--%21 885
LOTTE CHEMICAL CORP--.--%11 375
HENGYI PETROCHEMICAL CO LTD--.--%6 116