Corteva, Inc. (NYSE:CTVA) Receives $78.21 Consensus Price Target from Brokerages

Shares of Corteva, Inc. (NYSE:CTVA) have been given a consensus recommendation of “Moderate Buy” by the twenty-two research firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $78.8421.

CTVA has been the subject of a number of analyst reports. KeyCorp reaffirmed a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Royal Bank Of Canada reduced their target price on Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Wolfe Research upped their price target on Corteva from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group cut their price target on shares of Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective for the company in a report on Thursday, October 2nd.

Corteva Stock Down 1.2%

Shares of NYSE CTVA opened at $69.65 on Monday. Corteva has a 1 year low of $53.40 and a 1 year high of $77.41. The firm’s 50-day moving average is $66.79 and its 200-day moving average is $68.56. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $47.06 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.74.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the business posted ($0.49) earnings per share. Corteva’s revenue was up 6.5% compared to the same quarter last year. Equities analysts expect that Corteva will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s dividend payout ratio (DPR) is presently 30.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares in the last quarter. Woodline Partners LP raised its holdings in Corteva by 40.3% during the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock worth $3,645,000 after buying an additional 16,644 shares during the period. Focus Partners Wealth lifted its stake in Corteva by 10.8% in the first quarter. Focus Partners Wealth now owns 66,970 shares of the company’s stock valued at $4,176,000 after buying an additional 6,517 shares in the last quarter. Advisors Capital Management LLC boosted its holdings in shares of Corteva by 8.0% in the first quarter. Advisors Capital Management LLC now owns 7,398 shares of the company’s stock valued at $466,000 after buying an additional 550 shares during the period. Finally, Modern Wealth Management LLC increased its position in shares of Corteva by 22.7% during the first quarter. Modern Wealth Management LLC now owns 6,788 shares of the company’s stock worth $427,000 after acquiring an additional 1,258 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid?2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.