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

Thursday, April 8, 2021 | MarketBeat

Corteva, Inc. (NYSE:CTVA) has earned a consensus recommendation of "Hold" from the twenty-two brokerages that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $42.24.

A number of research analysts have weighed in on CTVA shares. Monness Crespi & Hardt increased their price target on Corteva from $24.00 to $32.00 and gave the stock a "sell" rating in a research note on Friday, February 5th. Redburn Partners lowered Corteva from a "buy" rating to a "neutral" rating in a research note on Thursday, January 21st. JPMorgan Chase & Co. raised Corteva from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $32.00 to $51.00 in a research note on Friday, February 5th. Susquehanna Bancshares lowered Corteva from a "positive" rating to a "neutral" rating in a research note on Friday, December 18th. Finally, UBS Group increased their price target on Corteva from $44.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, February 4th.

CTVA opened at $46.75 on Thursday. The stock has a market cap of $34.62 billion, a P/E ratio of 57.01, a P/E/G ratio of 1.90 and a beta of 0.82. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.26. The stock's 50 day simple moving average is $46.25 and its 200 day simple moving average is $39.52. Corteva has a 1-year low of $22.38 and a 1-year high of $48.48.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, February 2nd. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.09. The firm had revenue of $3.21 billion for the quarter, compared to analysts' expectations of $2.95 billion. Corteva had a return on equity of 4.70% and a net margin of 4.42%. Corteva's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS. Research analysts expect that Corteva will post 1.4 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 1st were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 26th. This represents a $0.52 annualized dividend and a yield of 1.11%. Corteva's dividend payout ratio is currently 36.36%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sterling Financial Planning Inc. acquired a new stake in shares of Corteva during the fourth quarter valued at about $25,000. Concord Wealth Partners acquired a new stake in shares of Corteva during the fourth quarter valued at about $25,000. Montag A & Associates Inc. acquired a new stake in shares of Corteva during the fourth quarter valued at about $27,000. ADE LLC acquired a new stake in shares of Corteva during the fourth quarter valued at about $27,000. Finally, Childress Capital Advisors LLC acquired a new stake in shares of Corteva during the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 77.15% of the company's stock.

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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Analyst Recommendations for Corteva (NYSE:CTVA)

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