Corteva (NYSE:CTVA) Sets New 1-Year High - Time to Buy?

Key Points

• Corteva hit a new 52-week high in Friday trading, reaching $87.89 before closing near $87.81. The move came on volume of about 269,353 shares.
• Recent analyst action has been mostly positive, with firms like Wells Fargo, RBC, and Argus raising price targets. The stock now carries a consensus rating of Moderate Buy with an average target of $88.95.
• The company’s latest earnings beat expectations, reporting $1.50 EPS on $4.91 billion in revenue, both above estimates. Corteva also recently paid a quarterly dividend of $0.18 per share, equal to a 0.8% annualized yield.

Corteva, Inc. (NYSE:CTVA - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $87.89 and last traded at $87.8060, with a volume of 269353 shares changing hands. The stock had previously closed at $86.65.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTVA. Wells Fargo & Company raised their price target on shares of Corteva from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. Royal Bank Of Canada boosted their price objective on Corteva from $95.00 to $97.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. BNP Paribas Exane increased their target price on Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. Weiss Ratings raised Corteva from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 7th. Finally, Argus boosted their price target on Corteva from $80.00 to $91.00 and gave the stock a "buy" rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $88.95.

Corteva Stock Performance

The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The stock's fifty day simple moving average is $80.74 and its 200 day simple moving average is $78.13. The company has a market cap of $58.87 billion, a price-to-earnings ratio of 51.56, a P/E/G ratio of 2.58 and a beta of 0.56.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.32. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the business earned $1.13 earnings per share. The business's revenue was up 11.0% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, analysts anticipate that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, June 1st. Corteva's payout ratio is currently 42.35%.

Institutional Investors Weigh In On Corteva

Hedge funds have recently modified their holdings of the company. Elevation Wealth Partners LLC boosted its holdings in Corteva by 334.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 339 shares of the company's stock valued at $29,000 after purchasing an additional 261 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Corteva in the 3rd quarter valued at approximately $25,000. Westfuller Advisors LLC increased its holdings in shares of Corteva by 2,764.3% during the 1st quarter. Westfuller Advisors LLC now owns 401 shares of the company's stock worth $34,000 after buying an additional 387 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Corteva during the 4th quarter worth approximately $27,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Corteva during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Company Profile

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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