Corteva, Inc. (NYSE:CTVA) Receives $78.21 Consensus Target Price from Analysts

Shares of Corteva, Inc. (NYSE:CTVA) have been assigned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $78.2105.

Several brokerages have recently weighed in on CTVA. BNP Paribas Exane raised their target price on Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, November 17th. UBS Group cut 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. Royal Bank Of Canada lowered their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Argus cut their price target on shares of Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Finally, Mizuho cut their target price on Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th.

Hedge Funds Weigh In On Corteva

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

Corteva Price Performance

Shares of CTVA opened at $69.89 on Monday. The firm has a market capitalization of $47.23 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 1.39 and a beta of 0.74. The firm’s fifty day simple moving average is $66.53 and its 200-day simple moving average is $68.68. Corteva has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

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. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the company posted ($0.49) earnings per share. Corteva’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts forecast that Corteva will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

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

Corteva Company Profile

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.