Oppenheimer Raises Corteva (NYSE:CTVA) Price Target to $69.00

Corteva (NYSE:CTVA) had its target price boosted by Oppenheimer from $67.00 to $69.00 in a report issued on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently commented on CTVA. KeyCorp upped their price target on shares of Corteva from $63.00 to $66.00 and gave the company 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 target for the company from $57.00 to $65.00 in a report on Monday, February 12th. Royal Bank of Canada increased their price objective on Corteva from $56.00 to $64.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. UBS Group lowered their target price on Corteva from $65.00 to $64.00 and set a buy rating on the stock in a research note on Thursday, January 11th. Finally, Wells Fargo & Company increased their price target on shares of Corteva from $54.00 to $65.00 and gave the stock an overweight rating in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $63.38.

Corteva Price Performance

Shares of NYSE:CTVA opened at $57.16 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.90 and a current ratio of 1.51. The company has a market capitalization of $39.95 billion, a PE ratio of 72.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. The stock has a fifty day moving average of $55.37 and a 200-day moving average of $50.65. Corteva has a one year low of $43.22 and a one year high of $60.57.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. Corteva’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the company posted $1.16 EPS. As a group, equities analysts anticipate that Corteva will post 2.83 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio is currently 81.01%.

Institutional Investors Weigh In On Corteva

A number of institutional investors have recently added to or reduced their stakes in CTVA. CVA Family Office LLC acquired a new stake in shares of Corteva during the 4th quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new stake in Corteva during the first quarter worth $25,000. BKM Wealth Management LLC bought a new stake in Corteva in the 4th quarter valued at $27,000. Rise Advisors LLC raised its stake in shares of Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after buying an additional 454 shares in the last quarter. Finally, NewSquare Capital LLC lifted its holdings in shares of Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after acquiring an additional 226 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

About Corteva

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.