Corteva (NYSE:CTVA) Reaches New 12-Month High at $58.80

Corteva, Inc. (NYSE:CTVA)’s share price reached a new 52-week high on Thursday . The stock traded as high as $58.80 and last traded at $58.77, with a volume of 567302 shares. The stock had previously closed at $57.44.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CTVA shares. OTR Global reiterated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. JPMorgan Chase & Co. dropped their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Mizuho decreased their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Corteva Trading Down 1.7 %

The firm has a market capitalization of $40.13 billion, a P/E ratio of 72.89, a PEG ratio of 1.60 and a beta of 0.77. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $54.68 and a 200-day moving average of $54.76.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same period in the prior year, the company posted $1.60 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts predict that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. Corteva’s payout ratio is presently 86.08%.

Institutional Investors Weigh In On Corteva

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Redmont Wealth Advisors LLC acquired a new stake in shares of Corteva in the 1st quarter valued at approximately $25,000. Acadian Asset Management LLC acquired a new stake in Corteva in the first quarter valued at approximately $25,000. Rise Advisors LLC grew its stake in shares of Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after buying an additional 454 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Corteva in the 4th quarter valued at $28,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Corteva during the 4th quarter valued at $29,000. 81.54% of the stock is currently owned by institutional investors.

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.