Corteva (NYSE:CTVA) Given New $81.00 Price Target at Wolfe Research

Corteva (NYSE:CTVA) had its price target increased by Wolfe Research from $80.00 to $81.00 in a research report sent to investors on Friday,MarketScreener reports. Wolfe Research currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. BNP Paribas Exane upped their price objective on shares of Corteva from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, November 17th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Argus dropped their target price on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 13th. Royal Bank Of Canada lowered their price objective on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Finally, Wells Fargo & Company cut their price objective on shares of Corteva from $80.00 to $77.00 and set an “overweight” 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 issued a Hold rating to the stock. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus price target of $78.84.

Corteva Trading Down 1.2%

NYSE CTVA opened at $69.65 on Friday. The company 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 has a 12 month low of $53.40 and a 12 month high of $77.41. The stock has a 50-day simple moving average of $66.79 and a 200 day simple moving average of $68.66.

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

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, December 1st. Corteva’s payout ratio is currently 30.77%.

Institutional Investors Weigh In On Corteva

A number of hedge funds have recently modified their holdings of the company. Gladwyn Financial Advisors Inc. acquired 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 during the 2nd quarter worth approximately $27,000. Activest Wealth Management lifted its position in shares of Corteva by 118.3% in the third quarter. Activest Wealth Management now owns 369 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares in the last quarter. Curat Global LLC grew its position in Corteva by 93.7% during 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 period. Finally, JPL Wealth Management LLC acquired a new position in shares of Corteva in the third quarter worth about $25,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

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.