Corteva, Inc. (NYSE:CTVA) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Corteva, Inc. has received a consensus recommendation of "Moderate Buy" from analysts, with 14 buy ratings and one strong buy rating among the 18 analysts covering the firm.
• The company recently increased its quarterly dividend from $0.17 to $0.18 per share, reflecting a payout ratio of 35.12% and an annualized yield of 1.1%.
• Corteva reported quarterly earnings of $2.20 per share, exceeding the consensus estimate by $0.31 and marking a revenue increase of 5.6% compared to the previous year.

Shares of Corteva, Inc. (NYSE:CTVA - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eighteen analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $80.6667.

A number of equities analysts have weighed in on the company. UBS Group lifted their price objective on Corteva from $90.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Zacks Research upgraded Corteva from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on Corteva from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Oppenheimer set a $87.00 target price on Corteva and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, KeyCorp restated a "sector weight" rating on shares of Corteva in a research report on Friday.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corteva

Institutional investors have recently bought and sold shares of the company. Gladwyn Financial Advisors Inc. acquired a new stake in Corteva in the 2nd quarter worth about $25,000. Total Investment Management Inc. acquired a new stake in Corteva in the 2nd quarter worth about $27,000. Curat Global LLC boosted its holdings in Corteva by 93.7% in the 2nd quarter. Curat Global LLC now owns 370 shares of the company's stock worth $28,000 after buying an additional 179 shares during the last quarter. Maryland Capital Advisors Inc. acquired a new stake in Corteva in the 2nd quarter worth about $29,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Corteva in the 2nd quarter worth about $29,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of CTVA opened at $63.36 on Friday. Corteva has a 12 month low of $53.40 and a 12 month high of $77.41. The stock has a fifty day moving average price of $71.24 and a 200-day moving average price of $68.85. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The firm has a market cap of $43.03 billion, a PE ratio of 30.91, a P/E/G ratio of 1.43 and a beta of 0.76.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 EPS. Equities research analysts predict that Corteva will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.18 per share. This is a boost from Corteva's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. Corteva's payout ratio is 35.12%.

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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