Corteva (NYSE:CTVA) PT Raised to $65.00

Corteva (NYSE:CTVA) had its price objective upped by Canaccord Genuity Group from $60.00 to $65.00 in a research report released on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

CTVA has been the subject of a number of other research reports. Royal Bank of Canada increased their target price on Corteva from $56.00 to $64.00 and gave the company an outperform rating in a report on Friday, February 2nd. Wolfe Research began coverage on Corteva in a report on Friday, March 1st. They issued an outperform rating and a $67.00 target price for the company. KeyCorp increased their target price on Corteva from $63.00 to $66.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Loop Capital upgraded Corteva from a hold rating to a buy rating and increased their target price for the company from $57.00 to $65.00 in a report on Monday, February 12th. Finally, Barclays increased their target price on Corteva from $55.00 to $58.00 and gave the company an equal weight rating in a report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $63.24.

Corteva Stock Performance

CTVA opened at $56.36 on Friday. The firm has a market cap of $39.28 billion, a PE ratio of 71.34, a P/E/G ratio of 1.50 and a beta of 0.78. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $55.40 and a 200-day simple moving average of $50.69. Corteva has a fifty-two week low of $43.22 and a fifty-two week high of $59.04.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company posted $1.16 EPS. As a group, equities analysts predict that Corteva will post 2.83 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio is 81.01%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Redmont Wealth Advisors LLC bought a new position in shares of Corteva in the first quarter valued at approximately $25,000. Rise Advisors LLC raised its stake in shares of Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares during the last quarter. Albion Financial Group UT raised its stake in shares of Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the last quarter. CVA Family Office LLC bought a new position in shares of Corteva in the fourth quarter valued at approximately $25,000. Finally, Ironwood Wealth Management Inc. raised its stake in shares of Corteva by 106.1% in the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after acquiring an additional 280 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

About Corteva

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.