Corteva, Inc. (NYSE:CTVA) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Corteva, Inc. (NYSE:CTVA) have been given an average rating of “Moderate Buy” by the twenty-one research firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $63.29.

CTVA has been the subject of several research reports. Oppenheimer lifted their price objective on Corteva from $62.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. KeyCorp lifted their price objective on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 price objective (down from $58.00) on shares of Corteva in a research report on Friday, April 12th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CTVA. AE Wealth Management LLC grew its position in Corteva by 12.1% during the 3rd quarter. AE Wealth Management LLC now owns 23,481 shares of the company’s stock worth $1,201,000 after purchasing an additional 2,534 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Corteva by 3.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 23,894 shares of the company’s stock valued at $1,222,000 after buying an additional 892 shares during the period. Avior Wealth Management LLC boosted its stake in shares of Corteva by 286.7% during the 3rd quarter. Avior Wealth Management LLC now owns 3,279 shares of the company’s stock valued at $168,000 after buying an additional 2,431 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Corteva by 37,003.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 10,760 shares of the company’s stock valued at $550,000 after buying an additional 10,731 shares during the period. Finally, Czech National Bank lifted its stake in shares of Corteva by 47.5% in the 3rd quarter. Czech National Bank now owns 124,135 shares of the company’s stock valued at $6,351,000 after purchasing an additional 39,982 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA opened at $54.92 on Friday. Corteva has a twelve month low of $43.22 and a twelve month high of $61.87. The stock’s 50 day moving average is $55.28 and its two-hundred day moving average is $50.46. The firm has a market capitalization of $38.38 billion, a PE ratio of 53.84, a P/E/G ratio of 1.43 and a beta of 0.77. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter in the previous year, the company earned $0.16 EPS. Research analysts anticipate that Corteva will post 2.84 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.17%. Corteva’s dividend payout ratio (DPR) is 62.75%.

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.