Corteva (NYSE:CTVA) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Corteva (NYSE:CTVA) from a hold rating to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

Several other brokerages have also weighed in on CTVA. Deutsche Bank Aktiengesellschaft dropped their target price on Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Corteva in a research report on Monday, December 29th. UBS Group dropped their price objective on shares of Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Rothschild & Co Redburn decreased their target price on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average price target of $79.47.

Corteva Stock Performance

Shares of NYSE CTVA opened at $71.68 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $67.26 and its two-hundred day moving average price is $68.46. Corteva has a 52-week low of $53.40 and a 52-week high of $77.41. The stock has a market capitalization of $48.44 billion, a P/E ratio of 30.63, a P/E/G ratio of 1.82 and a beta of 0.74.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.26. The company 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 business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.49) earnings per share. As a group, sell-side analysts forecast that Corteva will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given 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 dividend payout ratio (DPR) is 30.77%.

Institutional Trading of Corteva

Several large investors have recently added to or reduced their stakes in the company. Gladwyn Financial Advisors Inc. acquired a new position in shares of Corteva in the 2nd quarter worth approximately $25,000. Total Investment Management Inc. bought a new position in Corteva in the 2nd quarter valued at $27,000. Activest Wealth Management boosted its stake in Corteva by 118.3% in the third quarter. Activest Wealth Management now owns 369 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. Curat Global LLC grew its holdings in shares of Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after purchasing an additional 179 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in shares of Corteva in the third quarter valued at $25,000. 81.54% of the stock is owned by institutional investors.

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.