Corteva, Inc. (NYSE:CTVA) Given Average Recommendation of “Moderate Buy” by Analysts

Corteva, Inc. (NYSE:CTVA) has received a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $72.08.

A number of research analysts have recently commented on the stock. Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Monday, March 31st. KeyCorp boosted their target price on Corteva from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Oppenheimer reiterated an “outperform” rating and set a $75.00 target price (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. Wells Fargo & Company boosted their target price on Corteva from $79.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday. Finally, The Goldman Sachs Group initiated coverage on Corteva in a report on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company.

Institutional Trading of Corteva

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position 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 grew its position 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. grew its position 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 grew its position 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 grew its position 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 Trading Up 0.0%

NYSE CTVA opened at $73.30 on Thursday. Corteva has a 12 month low of $50.30 and a 12 month high of $74.96. The company has a 50-day moving average of $67.98 and a 200-day moving average of $63.16. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. The company has a market cap of $50.00 billion, a P/E ratio of 44.70, a P/E/G ratio of 1.87 and a beta of 0.75.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the prior year, the company posted $0.89 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts predict that Corteva will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.93%. The ex-dividend date was Monday, June 2nd. Corteva’s dividend payout ratio (DPR) is 41.46%.

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.