Corteva (NYSE:CTVA) Price Target Raised to $67.00 at BMO Capital Markets

Corteva (NYSE:CTVA) had its price objective boosted by BMO Capital Markets from $64.00 to $67.00 in a research note released on Friday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on CTVA. UBS Group cut their price objective on Corteva from $65.00 to $64.00 and set a buy rating on the stock in a research report on Thursday, January 11th. Oppenheimer raised their target price on Corteva from $67.00 to $69.00 and gave the company an outperform rating in a research note on Friday. KeyCorp raised their target price on Corteva from $63.00 to $66.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. BNP Paribas upgraded Corteva from an underperform rating to a neutral rating and set a $53.00 target price for the company in a research note on Friday, February 2nd. Finally, Wolfe Research began coverage on Corteva in a research note on Friday, March 1st. They issued an outperform rating and a $67.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $63.24.

Corteva Price Performance

CTVA opened at $56.36 on Friday. The stock’s 50 day simple moving average is $55.40 and its 200 day simple moving average is $50.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. Corteva has a 1 year low of $43.22 and a 1 year high of $59.04. The firm has a market cap of $39.28 billion, a price-to-earnings ratio of 71.34, a PEG ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $4.49 billion for 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%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. As a group, analysts predict that Corteva will post 2.83 earnings per share for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s payout ratio is currently 81.01%.

Institutional Trading of Corteva

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after acquiring an additional 1,941,323 shares during the period. Capital International Investors grew its holdings in Corteva by 47.2% during the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after purchasing an additional 8,260,808 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Corteva by 19.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after purchasing an additional 2,141,428 shares during the period. Northern Trust Corp grew its holdings in Corteva by 2.5% during the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after purchasing an additional 310,012 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Corteva by 7.2% during the first quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after purchasing an additional 617,030 shares during the period. Institutional investors own 81.54% of the company’s stock.

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.