CTVA Stock Summary and Trading Ideas (Corteva Common | NYSE:CTVA)

Corteva is an agriculture pure play that was formed in 2019 when it was spun off from DowDuPont. The company is a leader in the development of new seed and crop chemicals products. Seeds generate a little over half of profits with the remainder coming from crop protection chemicals. Although Corteva operates globally, around half of revenue comes from North America.

Corteva Common trades on the NYSE stock market under the symbol CTVA.

As of April 25, 2024, CTVA stock price declined to $54.70 with 1,475,234 million shares trading.

CTVA has a beta of 0.62, meaning it tends to be less sensitive to market movements. CTVA has a correlation of 0.07 to the broad based SPY ETF.

CTVA has a market cap of $38.23 billion. This is considered a Large Cap stock.

Last quarter Corteva Common reported $4 billion in Revenue and $.15 earnings per share. This beat revenue expectation by $87 million and exceeded earnings estimates by $.09.

In the last 3 years, CTVA stock traded as high as $68.43 and as low as $40.60.

The top ETF exchange traded funds that CTVA belongs to (by Net Assets): VTI, VOO, VO, SPY, IVV.

CTVA has underperformed the market in the last year with a price return of -10.0% while the SPY ETF gained +23.6%. However, in the short term, CTVA had mixed performance relative to the market. It has outperformed in the last 3 months, returning +20.8% vs +4.1% return in SPY. But in the last 2 weeks, CTVA shares have been beat by the market, returning -4.3% compared to an SPY return of -2.1%.

CTVA support price is $54.01 and resistance is $55.53 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CTVA stock will trade within this expected range on the day.