Corteva, Inc. (NYSE:CTVA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Corteva, Inc. (NYSE:CTVAGet Free Report) has been given a consensus rating of “Moderate Buy” by the twenty-one analysts that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $63.14.

A number of equities analysts recently commented on CTVA shares. Berenberg Bank lowered shares of Corteva from a “buy” rating to a “hold” rating and lowered their price target for the stock from $63.00 to $52.00 in a research report on Monday, November 27th. Royal Bank of Canada raised their price target on shares of Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and raised their target price for the company from $57.00 to $65.00 in a report on Monday, February 12th. Mizuho decreased their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Finally, UBS Group decreased their target price on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th.

View Our Latest Stock Analysis on Corteva

Institutional Investors Weigh In On Corteva

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Corteva by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after purchasing an additional 1,941,323 shares during the period. Capital World Investors grew its stake in shares of Corteva by 5.8% in the 2nd quarter. Capital World Investors now owns 38,895,669 shares of the company’s stock worth $2,228,722,000 after acquiring an additional 2,148,207 shares in the last quarter. Capital International Investors grew its stake in shares of Corteva by 47.2% in the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after acquiring an additional 8,260,808 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Corteva by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 14,988,480 shares of the company’s stock worth $856,916,000 after acquiring an additional 261,656 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Corteva by 19.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after acquiring an additional 2,141,428 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

NYSE CTVA opened at $54.49 on Friday. The firm has a 50-day moving average of $50.29 and a 200-day moving average of $49.25. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. The stock has a market cap of $38.24 billion, a PE ratio of 53.42, a P/E/G ratio of 1.38 and a beta of 0.77. Corteva has a 52-week low of $43.22 and a 52-week high of $63.37.

Corteva (NYSE:CTVAGet Free Report) last posted its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same quarter last year, the company posted $0.16 EPS. On average, sell-side analysts anticipate that Corteva will post 2.87 EPS for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.17%. Corteva’s dividend payout ratio is presently 62.75%.

About Corteva

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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.

Further Reading

Analyst Recommendations for Corteva (NYSE:CTVA)

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