In yesterday’s Wall Street session, Corteva Inc (NYSE:CTVA) shares traded at $47.82, down -1.83% from the previous session.
As of this writing, 26 analysts cover Corteva Inc (NYSE:CTVA). 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 $53.00, we find $66.00. Given the previous closing price of $48.71, this indicates a potential upside of 35.5 percent. CTVA stock price is now -5.37% away from the 50-day moving average and -15.58% away from the 200-day moving average. The market capitalization of the company currently stands at $33.94B.
There are 3 analysts who have given it a hold rating, whereas 19 have given it a buy rating. Brokers who have rated the stock have averaged $66.56 as their price target over the next twelve months.
In other news, ANDERSON DAVID J, EVP, Chief Financial Officer bought 2,000 shares of the company’s stock on Sep 15. The stock was bought for $105,940 at an average price of $52.97. Upon completion of the transaction, the EVP, Chief Financial Officer now directly owns 65,308 shares in the company, valued at $3.12 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 06, Chief Executive Officer Magro Charles V. bought 40,000 shares of the business’s stock. A total of $2,425,480 was incurred on buying the stock at an average price of $60.64. This leaves the insider owning 126,095 shares of the company worth $6.03 million. Insiders disposed of 73,822 shares of company stock worth roughly $3.53 million over the past 1 year. A total of 0.14% 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 $21,060,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $20,281,000 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 $12,082,000. AZIMUTH CAPITAL INVESTMENT MANAGEMENT LLC acquired a new stake in CTVA for approximately $5,888,000. POLAR ASSET MANAGEMENT PARTNERS INC. purchased a new stake in CTVA valued at around $4,806,000 in the second quarter. In total, there are 1,634 active investors with 82.58% ownership of the company’s stock.
Friday morning saw Corteva Inc (NYSE: CTVA) opened at $47.50. During the past 12 months, Corteva Inc has had a low of $47.38 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 1.66, and a quick ratio of 1.12. According to the stock market information, the enterprise value for the company is $36.64B, which is based on a 36.97 price-to-earnings ratio, a 3.73 price-to-earnings-growth ratio, and a beta of 0.81. The fifty day moving average price for CTVA is $50.48 and a two-hundred day moving average price translates $56.58 for the stock.
The latest earnings results from Corteva Inc (NYSE: CTVA) was released for Jun, 2023. The net profit margin was 5.26% and return on equity was 4.27% 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.
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 $0.63 dividend and a 1.32% 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 36.63%.
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.
