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

Shares of Corteva, Inc. (NYSE:CTVA) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $62.84.

A number of research analysts have commented on CTVA shares. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. KeyCorp reduced their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and increased their price target for the company from $59.00 to $67.00 in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company reduced their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd.

Corteva Stock Down 0.7 %

CTVA stock opened at $60.35 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $57.00 and its 200 day moving average is $55.17. The stock has a market cap of $42.06 billion, a price-to-earnings ratio of 76.39, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. Corteva has a 1-year low of $43.22 and a 1-year high of $61.21.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.09. The company had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. Corteva’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.60 earnings per share. Sell-side analysts predict that Corteva will post 2.66 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.17 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.13%. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

Institutional Trading of Corteva

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Redmont Wealth Advisors LLC purchased a new position in Corteva during the first quarter valued at $25,000. Acadian Asset Management LLC purchased a new position in Corteva during the first quarter valued at $25,000. Rise Advisors LLC lifted its position in Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after buying an additional 454 shares during the period. Albion Financial Group UT lifted its position in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the period. Finally, Ironwood Wealth Management Inc. lifted its position in Corteva by 106.1% during the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after buying an additional 280 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

About Corteva

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.