Corteva, Inc. (NYSE:CTVA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Corteva, Inc. (NYSE:CTVA) have earned an average rating of “Moderate Buy” from the twenty-two analysts that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $78.2105.

CTVA has been the topic of a number of recent research reports. Wolfe Research upped their target price on Corteva from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Argus reduced their price objective on Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Jefferies Financial Group dropped their price objective on Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $76.00 price target on shares of Corteva in a report on Friday, November 7th.

Hedge Funds Weigh In On Corteva

Several institutional investors have recently added to or reduced their stakes in CTVA. Peak Financial Advisors LLC acquired a new stake in shares of Corteva in the second quarter valued at $505,000. PGGM Investments raised its position in Corteva by 68.5% in the second quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after acquiring an additional 497,200 shares in the last quarter. TriaGen Wealth Management LLC acquired a new stake in Corteva in the 3rd quarter valued at about $4,284,000. S.E.E.D. Planning Group LLC lifted its holdings in Corteva by 70.3% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock valued at $12,252,000 after acquiring an additional 67,869 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Corteva by 302.1% during the 2nd quarter. Schroder Investment Management Group now owns 484,605 shares of the company’s stock valued at $36,118,000 after purchasing an additional 364,083 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Down 2.1%

NYSE:CTVA opened at $68.66 on Monday. The company has a market capitalization of $46.39 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 1.39 and a beta of 0.74. Corteva has a 52-week low of $53.40 and a 52-week high of $77.41. The stock has a fifty day simple moving average of $66.15 and a 200-day simple moving average of $68.76. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period last year, the firm posted ($0.49) EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Corteva will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s dividend payout ratio is currently 30.77%.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.