As of Friday close, Corteva Inc.’s (NYSE:CTVA) stock was down -$0.11, moving down -0.21 percent to $51.42. The average number of shares traded per day over the past five days has been 4,101,420 shares. 2 times new highs have been achieved over the past 5 days, with a -$1.13 fall in that time frame. In the last twenty days, the average volume was 5,030,860, while in the previous 50 days, it was 4,193,728.
Since last month, CTVA stock rose 4.77%. Shares of the company fell to $48.68 on 08/23/23, the lowest level in the past month. A 52-week high of $68.43 was reached on 02/01/23 after having rallying from a 52-week low of $48.68. Since the beginning of this year, CTVA’s stock price has dropped by -12.52% or -$7.36, and marked a new high 11 times. However, the stock has declined by -24.86% since its 52-week high.
CTVA stock investors should be aware that Corteva Inc. (CTVA) stock had its last reported insider trading activity 8 days ago on Sep 15. ANDERSON DAVID J, the EVP, Chief Financial Officer of the company, purchased of 2,000 shares for $52.97 on Sep 15. It resulted in a $105,940 investment by the insider. Magro Charles V. added 40,000 shares at an average price of $60.64 on Feb 06. The insider now owns 126,095 shares following the transaction.
Valuation Metrics
Right now, Corteva Inc. (CTVA) has a P/E ratio of about 33.00. The stock’s beta is 0.81. Besides these, the trailing price-to-sales (P/S) ratio of 2.08, the price-to-book (PB) ratio of 1.39.
The latest dividend of $0.16 per share was paid out, which is 6.67% more than last year’s $0.15. On Friday July 21 2023, a $0.01 dividend increase was announced.
Financial Health
In the three months ended June 29, Corteva Inc.’s quick ratio stood at 1.10, while its current ratio was 1.70, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.09, and the total debt-to-equity ratio was 0.20. On the profitability front, the trailing twelve-month gross margin is 41.30% percent. In the year ended June 29, EBITDA margin amounted to 17.85%, whereas operating margins totaled 10.10%. Based on annual data, CTVA earned $7.02 billion in gross profit and brought in $17.45 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 5.20%. Return on equity (ROE) for the past 12 months was 3.60%.
In Corteva Inc.’s quarter-end financial report for June 29, it reported total debt of $2.29 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CTVA’s revenue fell -3.42% to $4.88 billion during the quarter, while net income inched up to $6.04 billion. While analysts expected Corteva Inc. to report $1.58 quarterly earnings, the actual figure was $1.6 per share, beating the consensus estimate by 1.30%. During the quarter, the company generated $1.47 billion in EBITDA. The liabilities of Corteva Inc. were 17.73 billion at the end of its most recent quarter ended June 29, and its total debt was $5.31 billion. The value of shareholders’ equity is $709.76 million.
Technical Picture
This quick technical analysis looks at Corteva Inc.’s (CTVA) price momentum. With a historical volatility rate of 23.15%, the RSI 9-day stood at 48.92% on 22 September.
With respect to its five-day moving average, the current Corteva Inc. price is down by -2.15% percent or -$1.13. At present, CTVA shares trade +3.56% above its 20-day simple moving average and -16.34% percent below its 100-day simple moving average. However, the stock is currently trading approximately -5.84% below its SMA50 and -20.11% below its SMA200.
Stochastic coefficient K was 59.94% and Stochastic coefficient D was 66.23%, while ATR was 0.99. Given the Stochastic reading of 56.58% for the 14-day period, the RSI (14) reading has been calculated as 48.02%. As of today, the MACD Oscillator reading stands at -0.42, while the 14-day reading stands at 0.26.
Analyst Ratings
UBS upgraded its rating on Corteva Inc. (NYSE: CTVA) to a Buy in a note to investors on September 05, 2023. The analysts firm previously had a Neutral rating on the stock.Corteva Inc. (CTVA) has been rated Overweight by analysts. According to 1 brokerage firm, CTVA is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 3 analysts rate Corteva Inc. stock as buy, with 16 recommending it as overweight.
With a median target price of $68.00, the current consensus forecast for the stock is $57.00 – $82.00. Based on these forecasts, analysts predict Corteva Inc. (CTVA) will achieve an average price target of $69.23.
