Corteva, Inc. (NYSE:CTVA) Receives $61.67 Average PT from Analysts

Shares of Corteva, Inc. (NYSE:CTVA) have been assigned an average rating of “Moderate Buy” from the twenty brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $61.94.

CTVA has been the topic of several recent analyst reports. KeyCorp dropped their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company dropped their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Mizuho cut their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 target price on shares of Corteva in a research report on Wednesday, June 12th. Finally, OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th.

Corteva Trading Up 1.5 %

NYSE CTVA opened at $58.02 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $54.89 and a 200 day simple moving average of $54.84. Corteva has a 12 month low of $43.22 and a 12 month high of $58.92. The firm has a market capitalization of $40.44 billion, a P/E ratio of 73.44, a PEG ratio of 1.68 and a beta of 0.77.

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

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a $0.17 dividend. The ex-dividend date was Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.17%. Corteva’s dividend payout ratio (DPR) is 86.08%.

Institutional Investors Weigh In On Corteva

A number of hedge funds and other institutional investors have recently bought and sold shares of CTVA. Mediolanum International Funds Ltd purchased a new stake in shares of Corteva in the first quarter worth about $2,270,000. Red Mountain Financial LLC bought a new position in Corteva in the 4th quarter valued at $862,000. California State Teachers Retirement System grew its position in shares of Corteva by 15.1% during the 4th quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock valued at $66,287,000 after purchasing an additional 181,883 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Corteva by 14.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock worth $54,678,000 after purchasing an additional 121,817 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Corteva in the first quarter worth $1,965,000. 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.