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

Corteva (NYSE:CTVA) had its price target boosted by Mizuho from $78.00 to $80.00 in a research report released on Friday, MarketBeat.com reports. Mizuho currently has an outperform rating on the stock.

A number of other research firms also recently commented on CTVA. Wells Fargo & Company decreased their target price on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. BNP Paribas Exane upped their price target on shares of Corteva from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, November 17th. Jefferies Financial Group cut their price objective on Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Finally, Rothschild & Co Redburn lowered their target price on Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Sixteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.79.

Corteva Price Performance

Shares of CTVA opened at $69.65 on Friday. The stock’s 50 day moving average is $66.79 and its two-hundred day moving average is $68.66. Corteva has a twelve month low of $53.40 and a twelve month high of $77.41. The firm has a market capitalization of $47.06 billion, a PE ratio of 29.77, a P/E/G ratio of 1.42 and a beta of 0.74. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the company earned ($0.49) earnings per share. Corteva’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts anticipate that Corteva will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

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

Hedge Funds Weigh In On Corteva

A number of hedge funds have recently modified their holdings of CTVA. Vanguard Group Inc. grew its position in Corteva by 0.5% during the second quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock valued at $5,976,436,000 after purchasing an additional 373,680 shares in the last quarter. State Street Corp increased its position in Corteva by 3.6% during the third quarter. State Street Corp now owns 35,280,805 shares of the company’s stock worth $2,386,041,000 after acquiring an additional 1,230,074 shares during the period. Franklin Resources Inc. increased its stake in Corteva by 5.9% during the third quarter. Franklin Resources Inc. now owns 18,731,627 shares of the company’s stock valued at $1,266,820,000 after acquiring an additional 1,051,389 shares during the period. Geode Capital Management LLC lifted its stake in Corteva by 1.4% during the second quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock worth $1,339,651,000 after purchasing an additional 251,693 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Corteva by 1.8% in the 3rd quarter. Northern Trust Corp now owns 11,169,284 shares of the company’s stock worth $755,379,000 after purchasing an additional 194,728 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Company Profile

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.