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

Corteva, Inc. (NYSE:CTVA) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $78.2105.

CTVA has been the subject of a number of recent analyst reports. Morgan Stanley set a $84.00 price target on Corteva in a research report on Monday, September 15th. The Goldman Sachs Group raised their target price on shares of Corteva from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Wall Street Zen downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Royal Bank Of Canada reduced their price target on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Finally, Zacks Research lowered shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th.

Institutional Investors Weigh In On Corteva

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Corteva by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock valued at $5,976,436,000 after purchasing an additional 373,680 shares during the period. State Street Corp grew its position in Corteva by 3.6% during the third quarter. State Street Corp now owns 35,280,805 shares of the company’s stock valued at $2,386,041,000 after purchasing an additional 1,230,074 shares in the last quarter. Franklin Resources Inc. grew its position in Corteva by 5.9% during the third quarter. Franklin Resources Inc. now owns 18,731,627 shares of the company’s stock valued at $1,266,820,000 after purchasing an additional 1,051,389 shares in the last quarter. Geode Capital Management LLC increased its stake in Corteva by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock valued at $1,339,651,000 after buying an additional 251,693 shares during the period. Finally, Northern Trust Corp lifted its position in Corteva by 1.8% in the 3rd quarter. Northern Trust Corp now owns 11,169,284 shares of the company’s stock worth $755,379,000 after buying an additional 194,728 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Trading Down 2.1%

Corteva stock opened at $68.66 on Monday. The firm has a market cap of $46.39 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 1.39 and a beta of 0.74. Corteva has a 1 year low of $53.40 and a 1 year high of $77.41. The firm’s 50 day moving average price is $66.15 and its two-hundred day moving average price is $68.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.26. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted ($0.49) EPS. On average, research analysts predict that Corteva will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.18 per share. The ex-dividend date was Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s payout ratio is currently 30.77%.

About Corteva

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.