The stock of Corteva Inc. (NYSE:CTVA) increased by $0.38 on Tuesday to finish at $51.31, up 0.75 percent. The last five days have seen an average of 4,256,520 shares of common stock traded. 11 times new highs were reached in the current year, with a fall of -$7.47. The average number of shares traded over the last 20 days was 4,107,240, while the average volume over the last 50 days totaled 3,739,316.
CTVA stock dropped -9.07% since last month. On 08/23/23, the company’s shares reached a one-month low of $48.68. The stock touched a high of $68.43 on 02/01/23, after rallying from a low of $48.68 in 52 weeks. The price of CTVA stock has declined by -12.71% or -$7.47 this year, reaching a new high 11 times. Still, the stock price is down -25.02% from the 52-week high.
Insider Transactions
CTVA stock investors should be aware that Corteva Inc. (CTVA) stock had its last reported insider trading activity 205 days ago on Feb 06. On Feb 06, Chief Executive Officer Magro Charles V. acquired 40,000 shares at $60.64 each. This transaction resulted in the insider spending $2,425,480. On Sep 15, Grimm Audrey sold 10,000 shares at a price of US$62.79. After the transaction, the insider now owns 7,511 shares.
Valuation Metrics
Corteva Inc. (CTVA) has a trailing price-to-earnings (P/E) ratio of 32.93. Beta for the stock is 0.83. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.07, the price-to-book (PB) ratio of 1.39.
Company paid $0.16 per share in dividends, an increase of 6.67% from $0.15 last year.
Financial Health
For the three months ended June 29, Corteva Inc.’s quick ratio was 1.10, while its current ratio was 1.70, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.09, and the total debt to equity ratio is 0.20. As far as profitability goes, gross margin for the trailing twelve months is 41.30% percent. Corteva Inc.’s EBITDA margin for the year ended June 29 was 17.85%, whereas its operating margin stood at 10.10% for the same period. Based on annual data, it had gross profit of $7.02 billion and revenue of $17.45 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CTVA’s return on assets (ROA) during the last 12 months has been 2.10%. There was a 5.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 3.60%.
Earnings Surprise
According to Corteva Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $6.04 billion, while revenues fell by -3.42% to $4.88 billion. It was predicted that Corteva Inc.’s quarterly earnings would be $1.6, but it ended up being $1.58, beating the consensus by 1.30%. EBITDA was $1.47 billion for the quarter. At the end of Corteva Inc.’s most recent quarter ended June 29, its liabilities totaled 17.73 billion, while its total debt was $5.31 billion. Equity owned by shareholders amounts to $709.76 million.
Technical Picture
Here’s a quick look at Corteva Inc.’s (CTVA) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 48.94%, suggesting the stock is Neutral, with a 17.24% historical volatility rate.
The stochastic %K and %D were 37.59% and 24.97% respectively, while the average true range (ATR) was 0.98. Based on the 14-day stochastic reading of 52.23%, the RSI (14) reading is 43.18%. On the 9-day MACD Oscillator, the stock is at 0.54, and the 14-day reading is at 0.09.
Analyst Ratings
Corteva Inc. (NYSE: CTVA) was downgraded by Redburn to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Corteva Inc. (CTVA) an Overweight rating. CTVA is a stock that is recommended for selling by 1 brokerage firm, while 5 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 3 rates it overweight and 15 others recommend it as a buy.
What is CTVA’s price target for the next 12 months?
The current consensus forecast for the stock is between $57.00 and $82.00, with a median target price of $67.50. In analyzing these forecasts, the average price target given by analysts for Corteva Inc. (CTVA) is $68.92.
