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

Shares of Corteva, Inc. (NYSE:CTVA) have earned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $88.8095.

CTVA has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of Corteva from $88.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. BNP Paribas Exane raised their price objective on shares of Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. Barclays lifted their target price on shares of Corteva from $84.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Morgan Stanley increased their target price on shares of Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, Berenberg Bank lifted their price objective on shares of Corteva from $68.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, March 26th.

Corteva Stock Up 0.7%

CTVA opened at $77.45 on Thursday. The company has a 50 day moving average of $79.88 and a 200 day moving average of $75.59. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Corteva has a 12 month low of $60.53 and a 12 month high of $85.63. The company has a market cap of $51.80 billion, a PE ratio of 45.56, a price-to-earnings-growth ratio of 2.35 and a beta of 0.57.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.32. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The company had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the company earned $1.13 earnings per share. Corteva’s quarterly revenue was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, sell-side analysts expect that Corteva will post 3.72 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.18 per share. The ex-dividend date was Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Corteva’s payout ratio is 42.35%.

Institutional Investors Weigh In On Corteva

A number of hedge funds have recently modified their holdings of the business. JPL Wealth Management LLC bought a new position in shares of Corteva during the 3rd quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC bought a new stake in Corteva during the fourth quarter worth $27,000. Bank of Jackson Hole Trust purchased a new stake in Corteva in the fourth quarter worth $28,000. Redmont Wealth Advisors LLC purchased a new position in Corteva during the third quarter worth about $29,000. Finally, Cornerstone Financial Management LLC bought a new stake in Corteva during the fourth quarter worth about $29,000. Institutional investors and hedge funds 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.