JPMorgan Chase & Co. Reaffirms “Neutral” Rating for Corteva (NYSE:CTVA)

JPMorgan Chase & Co. restated their neutral rating on shares of Corteva (NYSE:CTVA) in a research report report published on Friday, Marketbeat.com reports. The brokerage currently has a $57.00 price objective on the stock, down from their previous price objective of $58.00.

Other equities research analysts also recently issued reports about the stock. Wolfe Research assumed coverage on shares of Corteva in a research note on Friday, March 1st. They issued an outperform rating and a $67.00 target price on the stock. Wells Fargo & Company lifted their price objective on shares of Corteva from $54.00 to $65.00 and gave the stock an overweight rating in a report on Friday, February 2nd. BNP Paribas raised Corteva from an underperform rating to a neutral rating and set a $53.00 target price on the stock in a research note on Friday, February 2nd. Oppenheimer raised their price target on Corteva from $60.00 to $62.00 and gave the company an outperform rating in a research report on Friday, February 2nd. Finally, Mizuho cut their price objective on Corteva from $59.00 to $56.00 and set a buy rating for the company in a report on Thursday, February 1st. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $63.05.

Corteva Stock Down 0.2 %

CTVA opened at $53.67 on Friday. The firm has a market capitalization of $37.51 billion, a P/E ratio of 52.62, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77. Corteva has a one year low of $43.22 and a one year high of $63.06. The company has a fifty day moving average price of $55.17 and a 200-day moving average price of $50.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90.

Corteva (NYSE:CTVA) last posted its earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the business earned $0.16 earnings per share. Equities research analysts expect that Corteva will post 2.86 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. Corteva’s dividend payout ratio is presently 62.75%.

Hedge Funds Weigh In On Corteva

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kingsview Wealth Management LLC raised its holdings in Corteva by 2.0% in the 3rd quarter. Kingsview Wealth Management LLC now owns 7,660 shares of the company’s stock worth $438,000 after purchasing an additional 153 shares in the last quarter. Centaurus Financial Inc. boosted its position in Corteva by 4.9% during the 1st quarter. Centaurus Financial Inc. now owns 3,867 shares of the company’s stock valued at $233,000 after acquiring an additional 182 shares in the last quarter. Laidlaw Wealth Management LLC grew its holdings in shares of Corteva by 5.1% during the 4th quarter. Laidlaw Wealth Management LLC now owns 3,968 shares of the company’s stock worth $233,000 after acquiring an additional 194 shares during the period. Arcataur Capital Management LLC raised its position in shares of Corteva by 2.4% in the 3rd quarter. Arcataur Capital Management LLC now owns 8,598 shares of the company’s stock worth $440,000 after acquiring an additional 200 shares in the last quarter. Finally, &PARTNERS lifted its stake in shares of Corteva by 4.3% in the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after purchasing an additional 200 shares during the period. Institutional investors 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.