Berenberg Bank Downgrades Continental (OTCMKTS:CTTAY) to Hold

Continental (OTCMKTS:CTTAY) was downgraded by equities researchers at Berenberg Bank from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Several other research firms have also commented on CTTAY. Sanford C. Bernstein upgraded Continental from an “underperform” rating to a “market perform” rating in a research note on Monday, January 5th. Zacks Research upgraded Continental from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. Jefferies Financial Group raised shares of Continental from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. Citigroup reissued a “buy” rating on shares of Continental in a research note on Thursday, November 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Continental from a “hold” rating to a “buy” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Continental Price Performance

OTCMKTS CTTAY traded down $0.35 during trading hours on Tuesday, reaching $7.85. The company’s stock had a trading volume of 10,254 shares, compared to its average volume of 14,738. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.32 and a quick ratio of 0.90. The firm has a market capitalization of $15.70 billion, a price-to-earnings ratio of 49.06, a P/E/G ratio of 0.77 and a beta of 1.30. The company’s 50-day moving average is $7.71 and its two-hundred day moving average is $8.02. Continental has a 1-year low of $6.21 and a 1-year high of $9.19.

Continental (OTCMKTS:CTTAY) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.17). The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $4.93 billion. Continental had a net margin of 0.91% and a return on equity of 1.14%. On average, equities analysts predict that Continental will post 0.66 EPS for the current year.

About Continental

Continental AG, trading on the OTC market under the ticker CTTAY, is a global technology company renowned for its wide range of automotive and industrial products. The company’s core businesses include the design, development, and manufacturing of tires for passenger cars, commercial trucks, and specialty applications, as well as advanced automotive systems such as braking solutions, vehicle stability controls, sensors and electronic safety devices.

Founded in 1871 and headquartered in Hanover, Germany, Continental began as a rubber manufacturer before pioneering pneumatic tires in the late 19th century.