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

Corteva, Inc. (NYSE:CTVA) has received an average recommendation of “Moderate Buy” from the twenty analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $61.94.

A number of research firms recently commented on CTVA. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price target on shares of Corteva in a report on Wednesday, June 12th. OTR Global reissued a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Wells Fargo & Company cut their target price 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. Finally, Mizuho decreased their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th.

Corteva Stock Up 0.4 %

Shares of NYSE:CTVA opened at $58.79 on Tuesday. The stock has a market capitalization of $40.98 billion, a P/E ratio of 74.42, a price-to-earnings-growth ratio of 1.68 and a beta of 0.77. The stock’s 50-day moving average price is $55.10 and its 200-day moving average price is $54.90. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva has a 12-month low of $43.22 and a 12-month high of $59.08.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same period last year, the company earned $1.60 EPS. Corteva’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Corteva will post 2.69 earnings per share for the current year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.16%. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s dividend payout ratio is 86.08%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CTVA. &PARTNERS boosted its position in shares of Corteva by 4.3% during the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after acquiring an additional 200 shares during the last quarter. Herr Investment Group LLC grew its stake in shares of Corteva by 2.8% in the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock worth $427,000 after buying an additional 200 shares in the last quarter. Azzad Asset Management Inc. ADV grew its stake in shares of Corteva by 0.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock worth $2,600,000 after buying an additional 203 shares in the last quarter. Albion Financial Group UT increased its holdings in shares of Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after buying an additional 220 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Corteva by 1.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock valued at $1,037,000 after buying an additional 227 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

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.