Corteva, Inc. (NYSE:CTVA) Given Average Rating of “Moderate Buy” by Brokerages

Corteva, Inc. (NYSE:CTVA) has received an average rating of “Moderate Buy” from the twenty analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $61.67.

CTVA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. Wells Fargo & Company decreased their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, KeyCorp dropped their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd.

Institutional Investors Weigh In On Corteva

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital International Investors lifted its stake in Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after purchasing an additional 678,722 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Corteva by 2.5% in the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after buying an additional 310,012 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Corteva by 7.2% in the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after buying an additional 617,030 shares during the last quarter. Harris Associates L P raised its stake in Corteva by 87.1% during the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after acquiring an additional 4,194,981 shares in the last quarter. Finally, Putnam Investments LLC lifted its position in Corteva by 12.9% in the fourth quarter. Putnam Investments LLC now owns 8,950,382 shares of the company’s stock valued at $428,902,000 after acquiring an additional 1,021,733 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Up 0.7 %

Shares of Corteva stock opened at $58.00 on Tuesday. Corteva has a fifty-two week low of $43.22 and a fifty-two week high of $58.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The company has a market cap of $40.42 billion, a P/E ratio of 73.42, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77. The firm has a 50-day simple moving average of $54.78 and a two-hundred day simple moving average of $54.80.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 EPS. As a group, equities analysts predict that Corteva will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

Corteva Company Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.