Corteva, Inc. (NYSE:CTVA - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $70.29 and last traded at $70.15, with a volume of 1199759 shares trading hands. The stock had previously closed at $69.06.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. Royal Bank of Canada lifted their price target on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Bank of America boosted their target price on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective for the company in a research report on Monday, March 31st. Barclays increased their price objective on Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company upped their price target on Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.50.
Read Our Latest Stock Analysis on CTVA
Corteva Stock Performance
The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The firm has a market capitalization of $47.73 billion, a price-to-earnings ratio of 54.24, a PEG ratio of 1.68 and a beta of 0.72. The firm has a 50 day moving average price of $62.97 and a 200-day moving average price of $61.47.
Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The company had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.56 billion. During the same period last year, the firm earned $0.89 earnings per share. Corteva's quarterly revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.
Corteva Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva's dividend payout ratio (DPR) is currently 41.46%.
Institutional Trading of Corteva
A number of hedge funds and other institutional investors have recently made changes to their positions in CTVA. Strs Ohio acquired a new position in Corteva in the 1st quarter valued at about $20,940,000. Advisors Capital Management LLC grew its position in shares of Corteva by 8.0% in the first quarter. Advisors Capital Management LLC now owns 7,398 shares of the company's stock valued at $466,000 after purchasing an additional 550 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in Corteva by 290.6% in the 1st quarter. Belpointe Asset Management LLC now owns 19,876 shares of the company's stock valued at $1,251,000 after buying an additional 14,787 shares in the last quarter. Fortis Capital Advisors LLC purchased a new stake in Corteva in the 1st quarter valued at approximately $1,034,000. Finally, Focus Partners Wealth lifted its stake in Corteva by 10.8% in the 1st quarter. Focus Partners Wealth now owns 66,970 shares of the company's stock valued at $4,176,000 after buying an additional 6,517 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.
Corteva Company Profile
(
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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.
Further Reading
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