Corteva, Inc. (NYSE:CTVA) Receives Average Recommendation of “Moderate Buy” from Analysts

Posted by Defense World Staff on Sep 15th, 2023

Corteva, Inc. (NYSE:CTVA – Get Free Report) has earned a consensus rating of “Moderate Buy” from the nineteen analysts that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $70.41.

Several research firms have recently weighed in on CTVA. UBS Group upgraded shares of Corteva from a “neutral” rating to a “buy” rating and raised their price objective for the company from $63.00 to $67.00 in a research report on Tuesday, September 5th. Canaccord Genuity Group began coverage on shares of Corteva in a research report on Wednesday, June 28th. They set a “buy” rating and a $75.00 price objective on the stock. Redburn Partners cut shares of Corteva from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 25th. Mizuho lowered their price objective on shares of Corteva from $74.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, August 7th. Finally, Royal Bank of Canada decreased their target price on shares of Corteva from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, July 13th.

View Our Latest Analysis on CTVA

Institutional Investors Weigh In On Corteva

A number of large investors have recently modified their holdings of CTVA. ST Germain D J Co. Inc. bought a new stake in Corteva during the second quarter worth about $456,000. Portside Wealth Group LLC bought a new stake in Corteva during the second quarter worth about $243,000. Bassett Hargrove Investment Counsel LLC boosted its stake in Corteva by 4.1% during the second quarter. Bassett Hargrove Investment Counsel LLC now owns 25,394 shares of the company’s stock worth $1,498,000 after acquiring an additional 994 shares in the last quarter. Comerica Bank bought a new stake in Corteva during the second quarter worth about $519,460,000. Finally, BOKF NA boosted its stake in Corteva by 2.9% during the second quarter. BOKF NA now owns 158,805 shares of the company’s stock worth $9,100,000 after acquiring an additional 4,479 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Corteva Stock Up 1.2 %

Shares of NYSE:CTVA opened at $52.61 on Friday. The firm has a fifty day moving average price of $53.08 and a two-hundred day moving average price of $56.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.66 and a quick ratio of 1.12. Corteva has a one year low of $48.68 and a one year high of $68.43. The company has a market cap of $37.34 billion, a price-to-earnings ratio of 40.78, a PEG ratio of 1.32 and a beta of 0.81.

Corteva (NYSE:CTVA – Get Free Report) last announced its quarterly earnings results on Friday, August 4th. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. Corteva had a net margin of 5.26% and a return on equity of 7.78%. The firm had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period last year, the firm earned $1.64 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts anticipate that Corteva will post 2.84 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.16 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. Corteva’s payout ratio is presently 49.61%.

Corteva Company Profile

(Get Free Report

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.