Corteva Inc. (NYSE: CTVA) stock fell -0.86% on Friday to $55.22 against a previous-day closing price of $55.70. With 3.22 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.23 million shares. During the session, the Agricultural Inputs company that operates in wider Basic Materials sector, reached to the highest price of $55.75 whereas the lowest price it dropped to was $54.68. The 52-week range on CTVA shows that it touched its highest point at $64.03 and its lowest point at $40.72 during that stretch. It currently has a 1-year price target of $62.90. With its current market cap of 39.31 billion, CTVA has annualized dividend of $0.60 while the current yield stands at 1.09%.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CTVA was down-trending over the past week, with a drop of -3.05%, but this was up by 6.11% over a month. Three-month performance dropped to -6.63% while six-month performance rose 14.73%. The stock gained 30.64% in the past year, while it has gained 16.79% so far this year. A look at the trailing 12-month EPS for CTVA yields 2.40 with Next year EPS estimates of 2.94. For the next quarter, that number is 1.47. This implies an EPS growth rate of 149.40% for this year and 17.63% for next year. EPS is expected to grow by 15.71% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 29.80%.
Float and Shares Shorts:
At present, 727.00 million CTVA shares are outstanding with a float of 725.92 million shares on hand for trading. On Jul 14, 2022, short shares totaled 5.42 million, which was 0.75% higher than short shares on Jun 14, 2022. In addition to Mr. Charles Victor Magro B.Sc. (Chem), MBA as the firm’s CEO & Director, Mr. David John Anderson B.S., M.B.A., MBA serves as its Exec. VP & CFO.
Through their ownership of 82.96% of CTVA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.59% of CTVA, in contrast to 32.08% held by mutual funds. Shares owned by individuals account for 0.26%. As the largest shareholder in CTVA with 10.76% of the stake, The Vanguard Group, Inc. holds 77,885,212 shares worth 77,885,212. A second-largest stockholder of CTVA, SSgA Funds Management, Inc., holds 36,879,035 shares, controlling over 5.10% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in CTVA, holding 34,939,846 shares or 4.83% stake. With a 2.96% stake in CTVA, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 21,383,557 shares are owned by the mutual fund manager. The Vanguard Mid Cap Index Fund, which owns about 2.31% of CTVA stock, is the second-largest Mutual Fund holder. It holds 16,699,389 shares valued at 904.1 million. Vanguard 500 Index Fund holds 2.21% of the stake in CTVA, owning 16,019,361 shares worth 867.29 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2022, CTVA reported revenue of $4.60B and operating income of $695.00M. It generated $564.00M net income for the quarter, which came to $1.72B over the last twelve months. The EBITDA in the recently reported quarter was $1.07B and diluted EPS was $0.78. EBITDA for the full year was $3.77B.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CTVA since 26 analysts follow the stock currently. There are 16 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 7 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CTVA analysts setting a high price target of $72.00 and a low target of $50.00, the average target price over the next 12 months is $63.14. Based on these targets, CTVA could surge 30.39% to reach the target high and fall by -9.45% to reach the target low. Reaching the average price target will result in a growth of 14.34% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CTVA will report FY 2022 earnings on 02/02/2023. Analysts have provided yearly estimates in a range of $2.80 being high and $2.23 being low. For CTVA, this leads to a yearly average estimate of $2.49. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Corteva Inc. reported $1.64 EPS against a consensus estimate of $1.64. The surprise factor in the prior quarter was $0.15. Based on analyst estimates, the high estimate for the next quarter is $1.58 and the low estimate is $1.38. The average estimate for the next quarter is thus $1.46.
Summary of Insider Activity:
Insiders traded CTVA stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 43 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 926,835 while 529,807 shares were sold.