Corteva Inc (NYSE:CTVA) shares, rose in value, with the stock price down by -0.18% to the previous day’s close as strong demand from buyers drove the stock to $56.85.
Actively observing the price movement in the last trading, the stock closed the session at $56.95. The value of beta (5-year monthly) was 0.76 whereas the PE ratio was 55.81 over 12-month period. Referring to stock’s 52-week performance, its high was $63.37, and the low was $43.22. On the whole, CTVA has fluctuated by 5.22% over the past month.
With the market capitalization of Corteva Inc currently standing at about $39.10 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024 – May 06, 2024. The company’s Forward Dividend Ratio is 0.63, with its dividend yield at 1.11%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.92, which is expected to increase to $2 for fiscal year $2.84 and then to about $3.44 by fiscal year 2025. Data indicates that the EPS growth is expected to be 5.60% in 2025, while the next year’s EPS growth is forecast to be 21.10%.
Analysts have estimated the company’s revenue for the quarter at $4.7 billion, with a low estimate of $4.37 billion and a high estimate of $4.93 billion. According to the average forecast, sales growth in current quarter could jump down -3.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $17.59 billion, representing an increase of 2.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CTVA’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 4.67, with the price of CTVA currently trading nearly 1.82% and 5.82% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 62.10, while the 7-day volatility ratio is showing 1.51% which for the 30-day chart, stands at 1.52%. Furthermore, Corteva Inc (CTVA)’s beta value is 0.78, and its average true range (ATR) is 0.92.
A comparison of Corteva Inc (CTVA) with its peers suggests the former has fared considerably weaker in the market. CTVA showed an intraday change of -0.18% in last session, and over the past year, it shrunk by -5.88%%.
Data on historical trading for Corteva Inc (NYSE:CTVA) indicates that the trading volumes over the past 10 days have averaged 2.97 million and over the past 3 months, they’ve averaged 3.83 million. According to company’s latest data on outstanding shares, there are 701.26 million shares outstanding.
Nearly 0.16% of Corteva Inc’s shares belong to company insiders and institutional investors own 83.90% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.45 million shares as on Mar 15, 2024, resulting in a short ratio of 2.31. According to the data, the short interest in Corteva Inc (CTVA) stood at 1.21% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 7.23 million. The stock has risen by 18.64% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CTVA stock heading into the next quarter.
