BMO Capital Markets Raises Corteva (NYSE:CTVA) Price Target to $86.00

Corteva (NYSE:CTVA - Free Report) had its target price lifted by BMO Capital Markets from $74.00 to $86.00 in a report released on Tuesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on CTVA. Wells Fargo & Company lifted their price target on shares of Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, June 23rd. Oppenheimer reiterated an "outperform" rating and issued a $75.00 price target (up from $72.00) on shares of Corteva in a report on Friday, May 9th. Morgan Stanley lifted their price target on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Citigroup lifted their price target on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group assumed coverage on shares of Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target on the stock. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corteva currently has an average rating of "Moderate Buy" and a consensus price target of $75.54.

Corteva Price Performance

Shares of CTVA stock traded down $1.28 on Tuesday, hitting $73.55. 2,545,348 shares of the stock traded hands, compared to its average volume of 3,420,076. The firm has a market cap of $50.17 billion, a price-to-earnings ratio of 44.89, a PEG ratio of 1.94 and a beta of 0.76. Corteva has a 52 week low of $50.30 and a 52 week high of $77.41. The firm has a 50 day simple moving average of $71.23 and a two-hundred day simple moving average of $64.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The company's revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. As a group, equities research analysts predict that Corteva will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.92%. Corteva's dividend payout ratio (DPR) is presently 41.46%.

Institutional Trading of Corteva

A number of large investors have recently made changes to their positions in the business. Moody National Bank Trust Division boosted its stake in shares of Corteva by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company's stock worth $1,650,000 after purchasing an additional 143 shares during the period. Ancora Advisors LLC boosted its stake in shares of Corteva by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company's stock worth $1,168,000 after purchasing an additional 150 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company's stock worth $1,979,000 after purchasing an additional 152 shares during the period. Plancorp LLC boosted its stake in shares of Corteva by 2.3% during the 1st quarter. Plancorp LLC now owns 7,156 shares of the company's stock worth $450,000 after purchasing an additional 158 shares during the period. Finally, Legacy Financial Advisors Inc. boosted its stake in shares of Corteva by 4.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company's stock worth $237,000 after purchasing an additional 160 shares during the period. 81.54% of the stock is currently owned by 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.