Corteva, Inc. (NYSE:CTVA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Corteva, Inc. (NYSE:CTVA) has been given a consensus recommendation of “Moderate Buy” by the twenty-two brokerages that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $78.1053.

A number of research firms have commented on CTVA. Wall Street Zen cut shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, December 10th. The Goldman Sachs Group raised their target price on Corteva from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday. BNP Paribas Exane upped their price target on Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, November 17th. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Finally, Citigroup boosted their price objective on Corteva from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, November 6th.

Corteva Trading Up 1.4%

Shares of CTVA stock opened at $66.38 on Thursday. Corteva has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The stock has a 50 day simple moving average of $64.37 and a two-hundred day simple moving average of $69.37. The company has a market cap of $44.86 billion, a P/E ratio of 28.37, a PEG ratio of 1.48 and a beta of 0.74.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.49) EPS. Research analysts forecast that Corteva will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, December 1st. Corteva’s payout ratio is 30.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CTVA. Gladwyn Financial Advisors Inc. bought a new position in Corteva in the 2nd quarter valued at about $25,000. Total Investment Management Inc. purchased a new stake in shares of Corteva in the second quarter worth approximately $27,000. Activest Wealth Management lifted its holdings in shares of Corteva by 118.3% in the third quarter. Activest Wealth Management now owns 369 shares of the company’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. Curat Global LLC boosted its position in shares of Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after buying an additional 179 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new stake in Corteva during the third quarter worth $25,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

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.