Corteva (NYSE:CTVA) Stock Price Expected to Rise, UBS Group Analyst Says

Corteva (NYSE:CTVA - Free Report) had its target price lifted by UBS Group from $76.00 to $90.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, June 23rd. 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 objective on the stock. BMO Capital Markets boosted their price objective on shares of Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a report on Tuesday. Barclays boosted their price objective on shares of Corteva from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday. Finally, Oppenheimer restated an "outperform" rating and issued a $75.00 price objective (up from $72.00) on shares of Corteva in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $75.54.

Corteva Trading Down 1.4%

Shares of CTVA stock traded down $1.07 on Wednesday, hitting $73.76. 708,539 shares of the stock traded hands, compared to its average volume of 3,730,934. The firm's 50-day moving average price is $71.23 and its two-hundred day moving average price is $64.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44. The stock has a market capitalization of $50.31 billion, a PE ratio of 44.94, a PEG ratio of 1.94 and a beta of 0.76. Corteva has a twelve month low of $50.30 and a twelve month high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share 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 analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. As a group, analysts anticipate that Corteva will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors 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 annualized dividend and a yield of 0.92%. Corteva's dividend payout ratio (DPR) is 41.46%.

Institutional Trading of Corteva

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Corteva by 0.8% in the first quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company's stock valued at $5,022,736,000 after acquiring an additional 639,799 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in Corteva by 1.8% in the first quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company's stock valued at $1,056,299,000 after acquiring an additional 288,792 shares in the last quarter. Franklin Resources Inc. raised its holdings in Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock valued at $919,507,000 after acquiring an additional 1,354,418 shares in the last quarter. Capital World Investors raised its holdings in Corteva by 2,874.6% in the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company's stock valued at $729,780,000 after acquiring an additional 12,381,436 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Corteva by 1.0% in the first quarter. Northern Trust Corp now owns 11,759,755 shares of the company's stock valued at $740,041,000 after acquiring an additional 110,865 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

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.