Corteva (NYSE:CTVA) Upgraded at Zacks Research

Zacks Research upgraded shares of Corteva (NYSE:CTVA) from a hold rating to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.

CTVA has been the topic of several other research reports. The Goldman Sachs Group increased their target price on Corteva from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. BNP Paribas Exane upped their price objective on Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, November 17th. Rothschild & Co Redburn cut their target price on Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Wells Fargo & Company reduced their target price on shares of Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Finally, Royal Bank Of Canada lowered their price target on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.47.

Corteva Stock Up 0.2%

NYSE:CTVA opened at $71.68 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. Corteva has a 1-year low of $53.40 and a 1-year high of $77.41. The company has a 50-day moving average of $67.26 and a 200 day moving average of $68.40. The firm has a market cap of $48.44 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.82 and a beta of 0.74.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) EPS 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 business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business posted ($0.49) EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Corteva will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s payout ratio is currently 30.77%.

Institutional Investors Weigh In On Corteva

A number of large investors have recently made changes to their positions in the stock. Gladwyn Financial Advisors Inc. acquired a new stake in Corteva during the 2nd quarter worth about $25,000. Activest Wealth Management raised its stake in shares of Corteva by 118.3% in the third quarter. Activest Wealth Management now owns 369 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Corteva during the third quarter worth about $25,000. True Wealth Design LLC lifted its holdings in shares of Corteva by 209.5% during the third quarter. True Wealth Design LLC now owns 390 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares during the period. Finally, Total Investment Management Inc. purchased a new stake in Corteva in the second quarter valued at approximately $27,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

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.