Brokerages Set Corteva, Inc. (NYSE:CTVA) Target Price at $78.21

Shares of Corteva, Inc. (NYSE:CTVA) have been given an average recommendation of “Moderate Buy” by the twenty-two ratings firms that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $78.7895.

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Corteva in a report on Monday, December 29th. BNP Paribas Exane upped their price target on Corteva from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Monday, November 17th. Wolfe Research lifted their price objective on Corteva from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Argus lowered their price objective on Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Finally, Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a report on Saturday.

Corteva Trading Down 1.2%

NYSE CTVA opened at $69.65 on Monday. The business’s fifty day moving average is $66.79 and its 200-day moving average is $68.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. The stock has a market capitalization of $47.06 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 1.42 and a beta of 0.74. Corteva has a one year low of $53.40 and a one year high of $77.41.

Corteva (NYSE:CTVA) last posted its quarterly earnings data 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 business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.49) earnings per share. Equities research analysts predict that Corteva will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.72 annualized dividend and a yield of 1.0%. Corteva’s dividend payout ratio (DPR) is 30.77%.

Institutional Investors Weigh In On Corteva

Several institutional investors have recently made changes to their positions in the stock. Moody National Bank Trust Division raised its stake in shares of Corteva by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after purchasing an additional 143 shares during the period. NORTHSTAR ASSET MANAGEMENT Co boosted its stake in Corteva by 2.2% in the 2nd quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock worth $517,000 after purchasing an additional 150 shares during the period. Empirical Finance LLC grew its holdings in Corteva by 0.6% during the 2nd quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock valued at $1,858,000 after buying an additional 153 shares in the last quarter. Exchange Capital Management Inc. increased its position in shares of Corteva by 0.3% during the second quarter. Exchange Capital Management Inc. now owns 56,901 shares of the company’s stock valued at $4,241,000 after buying an additional 161 shares during the period. Finally, Carnegie Investment Counsel lifted its holdings in shares of Corteva by 3.0% in the second quarter. Carnegie Investment Counsel now owns 5,607 shares of the company’s stock worth $418,000 after buying an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

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.