Corteva, Inc. (NYSE:CTVA) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Corteva, Inc. has received an average consensus rating of "Moderate Buy" from fourteen brokerages, with twelve analysts issuing buy ratings and two holding ratings.
• The company's stock currently has a 1-year target price of $80.25, and recently reported earnings per share of $2.20, exceeding expectations.
• Corteva announced an increase in its quarterly dividend from $0.17 to $0.18, representing an annualized dividend yield of 1.0% and a dividend payout ratio of 35.12%.

Shares of Corteva, Inc. (NYSE:CTVA - Get Free Report) have earned an average rating of "Moderate Buy" from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $80.25.

CTVA has been the subject of several analyst reports. Wells Fargo & Company restated an "overweight" rating and issued a $83.00 price objective (up previously from $82.00) on shares of Corteva in a report on Friday, August 8th. Zacks Research upgraded Corteva to a "hold" rating in a report on Friday, August 8th. Barclays upgraded Corteva from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Corteva in a research note on Monday, August 11th. Finally, Citigroup downgraded shares of Corteva from a "neutral" rating to a "mixed" rating in a research note on Friday.

Corteva Price Performance

Shares of NYSE CTVA opened at $72.88 on Tuesday. The stock has a market capitalization of $49.49 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 1.65 and a beta of 0.78. The business has a 50-day moving average of $73.31 and a 200-day moving average of $67.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. Corteva has a fifty-two week low of $53.40 and a fifty-two week high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion during the quarter, compared to analysts' expectations of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.Corteva's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 EPS. As a group, sell-side analysts predict that Corteva will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.18 dividend. This is an increase from Corteva's previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.0%. Corteva's dividend payout ratio (DPR) is 35.12%.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the sale, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On Corteva

Several hedge funds have recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Corteva by 307.2% during the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after acquiring an additional 11,760 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Corteva during the fourth quarter worth approximately $287,000. Cetera Investment Advisers lifted its position in Corteva by 10.4% during the fourth quarter. Cetera Investment Advisers now owns 117,433 shares of the company's stock worth $6,689,000 after acquiring an additional 11,110 shares during the last quarter. Fiduciary Trust Co lifted its position in Corteva by 21.5% during the fourth quarter. Fiduciary Trust Co now owns 9,674 shares of the company's stock worth $551,000 after acquiring an additional 1,710 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in Corteva by 12.5% during the fourth quarter. Ensign Peak Advisors Inc now owns 272,484 shares of the company's stock worth $15,521,000 after acquiring an additional 30,238 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

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.

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