Stocks of Corteva Inc. (NYSE:CTVA) traded higher last session on Wall Street, down -0.11% to $52.55.
According to the data, Corteva Inc. (NYSE:CTVA) has 26 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $82.00 and a low of $57.00, we find $68.00. Given the previous closing price of $52.61, this indicates a potential upside of 29.25 percent. CTVA stock price is now -1.05% away from the 50-day moving average and -9.88% away from the 200-day moving average. The market capitalization of the company currently stands at $37.34B.
A total of 5 analysts have issued a hold rating and 17 have given it a buy rating. Brokers who have rated the stock have averaged $69.45 as their price target over the next twelve months.
With the price target enhanced from $63 to $67, UBS Upgraded its rating from Neutral to Buy for Corteva Inc. (NYSE: CTVA).
In other news, Magro Charles V., Chief Executive Officer bought 40,000 shares of the company’s stock on Feb 06. The stock was bought for $2,425,480 at an average price of $60.64. Upon completion of the transaction, the Chief Executive Officer now directly owns 126,095 shares in the company, valued at $6.63 million. Insiders disposed of 73,822 shares of company stock worth roughly $3.88 million over the past 1 year. A total of 0.15% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CTVA stock. A new stake in Corteva Inc. shares was purchased by BALYASNY ASSET MANAGEMENT L.P. during the first quarter worth $23,143,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $22,287,000 in shares of CTVA during the first quarter. In the first quarter, COOPER CREEK PARTNERS MANAGEMENT LLC acquired a new stake in Corteva Inc. valued at approximately $13,277,000. AZIMUTH CAPITAL INVESTMENT MANAGEMENT LLC acquired a new stake in CTVA for approximately $6,470,000. POLAR ASSET MANAGEMENT PARTNERS INC. purchased a new stake in CTVA valued at around $5,281,000 in the second quarter. In total, there are 1,634 active investors with 83.30% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $52.51 for Corteva Inc. (NYSE: CTVA). During the past 12 months, Corteva Inc. has had a low of $48.68 and a high of $68.43. As of last week, the company has a debt-to-equity ratio of 0.20, a current ratio of 1.70, and a quick ratio of 1.10. According to the stock market information, the enterprise value for the company is $40.00B, which is based on a 33.73 price-to-earnings ratio, a 3.41 price-to-earnings-growth ratio, and a beta of 0.82. The fifty day moving average price for CTVA is $53.02 and a two-hundred day moving average price translates $58.25 for the stock.
The latest earnings results from Corteva Inc. (NYSE: CTVA) was released for Jun, 2023. According to the Agricultural Inputs Company, earnings per share came in at $1.6, beating analysts’ expectations of $1.58 by 0.02. This compares to -$0.04 EPS in the same period last year. The net profit margin was 5.30% and return on equity was 3.60% for CTVA. The company reported revenue of $6.04 billion for the quarter, compared to $6.25 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.31 percent. For the current quarter, analysts expect CTVA to generate $2.79B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/15/2023. Investors who held shares on 09/01/2023 were paid a $0.16 dividend. On an annualized basis, this represents a $0.64 dividend and a 1.22% percent yield. There was an ex-dividend date of 08/31/2023 for this dividend. In terms of dividend payout ratio, CTVA is presently at 46.10%.
Corteva Inc.(CTVA) Company Profile
Corteva, Inc. operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics. This segment also provides digital solutions that assist farmer decision-making with a view to optimize product selection, and maximize yield and profitability. The Crop Protection segment offers products that protect against weeds, insects and other pests, and diseases, as well as enhances crop health above and below ground through nitrogen management and seed-applied technologies. This segment provides herbicides, insecticides, nitrogen stabilizers, and pasture and range management herbicides. It serves agricultural input industry. The company operates in the United States, Canada, Latin America, the Asia Pacific, Europe, the Middle East, and Africa. Corteva, Inc. was incorporated in 2018 and is headquartered in Indianapolis, Indiana.
