CTVA

Corteva Inc

Industrial/Transportation


Presented:12/18/2023
Price:$47.18
Cap:$33.25B
Current Price:$57.30
Cap:$39.67B

Presented

Date12/18/2023
Price$47.18
Market Cap$33.25B
Ent Value$39.50B
P/E Ratio36.26x
Book Value$35.79
Div Yield1.31%
Shares O/S704.73M
Ave Daily Vol4,087,124
Short IntN/A

Current

Price$57.30
Market Cap$39.67B
Corteva, Inc. engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms. The Crop Protection segment offers the global agricultural input industry with products that protect against weeds, insects, other pests, and diseases, and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies. The company was founded in 1802 and is headquartered in Indianapolis, IN.

Publicly traded companies mentioned herein: Bayer AG (BAYN GR), Corteva Inc (CTVA), Dow Inc (DOW), DuPont de Nemours Inc (DD), FMC Corp (FMC)

Highlights

The presenter is long shares of Corteva Inc (CTVA), which is down 20% YTD from a combination of destocking and commoditization fears regarding part of its business. At the current price, he considers the earnings multiples overly bearish at 14.5x and 13x consensus 2024 and 2025, respectively. He is bullish on the company as it moves past destocking headwinds and benefits from a shift from a royalty payer to a royalty collector. As such, the stock trades at 11.5x his $4 2025 EPS, and he sees upside to 20x when the market starts giving CTVA credit for these positive shifts.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Request access to DeMatteo Research for full access

Request Access

Already have an account?

Idea Discussion

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Idea Discussions display submitted commentary from our investor community.

To read and participate in the discussion with the presenter and investor base, request access to DeMatteo

Request Access

Already have an account?

An error occurred loading this content. Try again later or contact us.