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

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

Several other equities analysts have also weighed in on the stock. Loop Capital raised shares of Corteva from a hold rating to a buy rating and lifted their target price for the company from $57.00 to $65.00 in a report on Monday, February 12th. Mizuho upped their price objective on shares of Corteva from $56.00 to $61.00 and gave the stock a buy rating in a research report on Thursday. Oppenheimer raised their target price on Corteva from $67.00 to $69.00 and gave the company an outperform rating in a research report on Friday. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $57.00 price target (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. Finally, Wells Fargo & Company raised their price objective on Corteva from $54.00 to $65.00 and gave the company an overweight rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Corteva currently has an average rating of Moderate Buy and an average target price of $63.38.

Corteva Stock Up 0.3 %

CTVA stock opened at $57.16 on Friday. The company has a market capitalization of $39.95 billion, a P/E ratio of 72.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. Corteva has a 12 month low of $43.22 and a 12 month high of $60.57. The firm’s fifty day simple moving average is $55.37 and its 200-day simple moving average is $50.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.90.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the firm earned $1.16 EPS. As a group, equities research analysts forecast that Corteva will post 2.83 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. Corteva’s payout ratio is 81.01%.

Institutional Trading of Corteva

Hedge funds have recently made changes to their positions in the company. &PARTNERS lifted its holdings in Corteva by 4.3% in the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after acquiring an additional 200 shares during the last quarter. Essex Financial Services Inc. lifted its stake in shares of Corteva by 3.2% in the 3rd quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock valued at $352,000 after purchasing an additional 215 shares during the last quarter. Baxter Bros Inc. grew its holdings in shares of Corteva by 1.2% during the 4th quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock worth $842,000 after purchasing an additional 215 shares during the period. Albion Financial Group UT raised its holdings in Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the period. Finally, NewSquare Capital LLC raised its holdings in Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after buying an additional 226 shares during the period. Hedge funds and other 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.