KeyCorp Issues Positive Forecast for Corteva (NYSE:CTVA) Stock Price

Corteva (NYSE:CTVA) had its target price raised by KeyCorp from $72.00 to $84.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued research reports about the company. BMO Capital Markets increased their target price on Corteva from $74.00 to $86.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Argus raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Monday, March 31st. Barclays raised their price target on Corteva from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. Oppenheimer restated an “outperform” rating and issued a $75.00 price objective (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. Finally, Royal Bank Of Canada lifted their price target on Corteva from $74.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, July 10th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $76.46.

Corteva Stock Performance

Shares of Corteva stock opened at $73.10 on Monday. The stock has a market cap of $49.87 billion, a price-to-earnings ratio of 44.57, a PEG ratio of 1.88 and a beta of 0.76. The firm’s 50-day moving average is $71.66 and its 200 day moving average is $64.81. Corteva has a 1 year low of $50.30 and a 1 year high of $77.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the previous year, the company posted $0.89 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that Corteva will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva’s dividend payout ratio (DPR) is 41.46%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CTVA. Flagship Wealth Advisors LLC acquired a new stake in shares of Corteva during the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. bought a new stake in shares of Corteva in the 4th quarter worth $27,000. Maryland Capital Advisors Inc. acquired a new position in shares of Corteva in the 2nd quarter worth $29,000. LGT Financial Advisors LLC acquired a new position in shares of Corteva in the 4th quarter worth $31,000. Finally, Valley National Advisers Inc. grew its holdings in shares of Corteva by 85.9% in the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after acquiring an additional 243 shares during the last quarter. 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.