Corteva Inc (NYSE: CTVA): A Stock Worth Thinking About Today

In the last trading session, 3.19 million shares of the Corteva Inc (NYSE:CTVA) were traded, and its beta was 0.78. Most recently the company’s share price was $57.68, and it changed around $0.01 or 0.02% from the last close, which brings the market valuation of the company to $39.67B. CTVA currently trades at a discount to its 52-week high of $63.37, offering almost -9.86% off that amount. The share price’s 52-week low was $43.22, which indicates that the current value has risen by an impressive 25.07% since then. We note from Corteva Inc’s average daily trading volume that its 10-day average is 3.14 million shares, with the 3-month average coming to 3.81 million.

Corteva Inc (NYSE:CTVA) trade information

Instantly CTVA has showed a green trend with a performance of 0.02% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 20.37% year-to-date, but still up 4.74% over the last five days. On the other hand, Corteva Inc (NYSE:CTVA) is 7.77% up in the 30-day period. We can see from the shorts that 8.45 million shares have been sold at a short interest cover period of 2.31 day(s).

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The consensus price target as assigned by Wall Street analysts is $67, which translates to bulls needing to increase their stock price by 13.91% from its current value. Analyst projections state that CTVA is forecast to be at a low of $42 and a high of $80.

Corteva Inc (CTVA) estimates and forecasts

Corteva Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 13.30 percent over the past six months and at a 7.43% annual growth rate that is well below the industry average of 22.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -20.70% in revenue this quarter, and will report an increase of 10.60% in the next quarter. The year-over-year growth rate is expected to be 2.10%, up from the previous year.

Consensus estimates provided by 16 financial analysts predict the company will bring in an average of $4.7 billion in revenue for the current quarter. 16 analysts expect Corteva Inc to make $6.22 billion in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will drop, forecast at -3.70%.

Corteva Inc earnings are expected to increase by 5.77% in 2024, but the outlook is positive 11.95% per year for the next five years.

CTVA Dividends

Corteva Inc’s next quarterly earnings report is expected to be released around May 01 and May 06. The annual dividend yield of the stock is 1.09 percent and its annual dividend per share was 0.63. It is important to note, however, that the 1.09% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Corteva Inc (NYSE:CTVA)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.09% of Corteva Inc shares, and 82.67% of them are in the hands of institutional investors. The stock currently has a share float of 82.74%. Corteva Inc stock is held by 1,608 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 11.19% of the shares, which is about 79.41 million shares worth $4.55 billion.

Blackrock Inc., with 7.61% or 53.98 million shares worth $3.09 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Washington Mutual Investors Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 21.11 million shares worth $1.21 billion, making up 2.97% of all outstanding shares. On the other hand, Washington Mutual Investors Fund held roughly 17.35 million shares worth around $887.79 million, which represents about 2.44% of the total shares outstanding.