Corteva, Inc. (NYSE:CTVA) Receives $72.08 Consensus PT from Brokerages

Corteva, Inc. (NYSE:CTVA - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $72.08.

Several brokerages have issued reports on CTVA. Argus raised shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a research note on Monday, March 31st. The Goldman Sachs Group initiated coverage on shares of Corteva in a research note on Thursday, March 13th. They set a "buy" rating and a $71.00 price target on the stock. Jefferies Financial Group reissued a "buy" rating on shares of Corteva in a report on Friday, June 6th. Wells Fargo & Company lifted their price objective on Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a report on Monday. Finally, KeyCorp increased their target price on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTVA. Flagship Wealth Advisors LLC bought a new stake in Corteva in the fourth quarter valued at $25,000. Noble Wealth Management PBC bought a new stake in Corteva in the 4th quarter valued at about $26,000. Pinney & Scofield Inc. acquired a new position in Corteva during the 4th quarter valued at about $27,000. LGT Financial Advisors LLC bought a new position in Corteva in the 4th quarter worth about $31,000. Finally, Valley National Advisers Inc. increased its stake in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after purchasing an additional 243 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Stock Up 0.1%

NYSE:CTVA traded up $0.08 during midday trading on Thursday, hitting $74.38. 5,390,596 shares of the company were exchanged, compared to its average volume of 3,401,781. Corteva has a fifty-two week low of $50.30 and a fifty-two week high of $75.07. The company has a market capitalization of $50.74 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 1.90 and a beta of 0.75. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $68.27 and a 200 day simple moving average of $63.27.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The business had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.56 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business's revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts anticipate that Corteva will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva's payout ratio is 41.46%.

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.