Corteva (NYSE:CTVA) Price Target Raised to $74.00

Corteva (NYSE:CTVA) had its target price raised by Citigroup from $70.00 to $74.00 in a research report released on Wednesday, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $76.00 target price on shares of Corteva in a research note on Friday, November 7th. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Bank of America upped their price objective on Corteva from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, Royal Bank Of Canada lowered their target price on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.47.

Corteva Price Performance

Corteva stock opened at $71.68 on Wednesday. The company’s 50 day simple moving average is $67.26 and its 200-day simple moving average is $68.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. Corteva has a 1 year low of $53.40 and a 1 year high of $77.41. The company has a market capitalization of $48.44 billion, a price-to-earnings 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 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 quarter last year, the firm earned ($0.49) EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts expect 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 paid a $0.18 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Gladwyn Financial Advisors Inc. purchased a new position in Corteva in the second quarter valued at approximately $25,000. Total Investment Management Inc. purchased a new position in shares of Corteva in the 2nd quarter valued at $27,000. Activest Wealth Management raised its stake in Corteva by 118.3% during the 3rd quarter. Activest Wealth Management now owns 369 shares of the company’s stock worth $25,000 after acquiring an additional 200 shares in the last quarter. Curat Global LLC lifted its position in Corteva by 93.7% in the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new position in Corteva in the third quarter valued at $25,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

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.