Corteva, Inc. (NYSE:CTVA) Receives $61.67 Average Target Price from Analysts

Shares of Corteva, Inc. (NYSE:CTVA) have received an average recommendation of “Moderate Buy” from the twenty research firms 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 given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $61.67.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Capital International Investors raised its position in Corteva by 2.6% in the 1st quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock valued at $1,524,648,000 after purchasing an additional 678,722 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Corteva by 19.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after buying an additional 2,141,428 shares in the last quarter. Northern Trust Corp grew its holdings in Corteva by 2.5% during the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock worth $614,133,000 after acquiring an additional 310,012 shares during the last quarter. Van ECK Associates Corp increased its position in 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 acquiring an additional 617,030 shares in the last quarter. Finally, Harris Associates L P raised its stake in shares of Corteva by 87.1% in the fourth 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 during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Down 0.7 %

Shares of NYSE:CTVA opened at $55.12 on Friday. The firm has a fifty day moving average of $53.78 and a two-hundred day moving average of $54.60. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. Corteva has a 12-month low of $43.22 and a 12-month high of $58.76. The firm has a market capitalization of $38.41 billion, a P/E ratio of 69.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate 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 net margin of 5.31% and a return on equity of 7.30%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 earnings per share. On average, equities analysts expect that Corteva will post 2.72 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $0.17 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. Corteva’s dividend payout ratio 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.