Corteva (NYSE:CTVA) Reaches New 12-Month High - Still a Buy?

Key Points

• Corteva shares hit a new 52-week high, trading as high as $88.57 and ending around $88.56, up about 1.9% on the day.
• Analyst sentiment remains constructive overall, with a Moderate Buy consensus and an average price target of $89.90, while recent target updates ranged from $85 to $103.
• The company recently beat earnings expectations, reporting $1.50 EPS on $4.91 billion in revenue versus estimates, and it also paid a quarterly dividend of $0.18 per share.

Corteva, Inc. (NYSE:CTVA - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $88.57 and last traded at $88.5550, with a volume of 2140586 shares. The stock had previously closed at $86.94.

Wall Street Analysts Forecast Growth

Several research firms have commented on CTVA. Citigroup increased their price objective on shares of Corteva from $83.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Argus upped their target price on Corteva from $80.00 to $91.00 and gave the company a "buy" rating in a report on Tuesday, March 31st. UBS Group decreased their price target on Corteva from $90.00 to $86.00 and set a "neutral" rating for the company in a research report on Tuesday, June 9th. Royal Bank Of Canada lifted their price target on Corteva from $97.00 to $103.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Zacks Research raised Corteva from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $89.90.

Corteva Stock Up 1.9%

The company's 50 day simple moving average is $81.13 and its 200-day simple moving average is $78.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47. The firm has a market capitalization of $59.23 billion, a PE ratio of 52.09, a PEG ratio of 2.64 and a beta of 0.56.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.32. The company had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. Corteva's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, analysts forecast that Corteva, Inc. will post 3.75 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. Corteva's dividend payout ratio (DPR) is presently 42.35%.

Institutional Investors Weigh In On Corteva

Several institutional investors and hedge funds have recently modified their holdings of CTVA. Brighton Jones LLC boosted its holdings in Corteva by 307.2% in 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 in the last quarter. Woodline Partners LP raised its position in shares of Corteva by 40.3% in the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company's stock worth $3,645,000 after purchasing an additional 16,644 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Corteva by 62.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,559 shares of the company's stock worth $191,000 after purchasing an additional 980 shares during the last quarter. Cresset Asset Management LLC boosted its stake in Corteva by 2.6% in the 2nd quarter. Cresset Asset Management LLC now owns 7,063 shares of the company's stock worth $526,000 after purchasing an additional 181 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in Corteva during the 2nd quarter valued at about $1,464,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

About Corteva

Corteva, Inc NYSE: CTVA is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva's operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.

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