Brokerages Set Corteva, Inc. (NYSE:CTVA) Target Price at $63.29

Corteva, Inc. (NYSE:CTVA) has earned an average rating of “Moderate Buy” from the twenty-one brokerages that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $63.29.

Several equities research analysts recently issued reports on CTVA shares. Royal Bank of Canada lifted their price target on shares of Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Mizuho decreased their price target 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. Oppenheimer lifted their price target on shares of Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Barclays lifted their price target on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Finally, Wolfe Research began coverage on shares of Corteva in a report on Friday, March 1st. They set an “outperform” rating and a $67.00 target price on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. &PARTNERS lifted its position in shares of Corteva by 4.3% during the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after acquiring an additional 200 shares during the period. Union Savings Bank lifted its position in shares of Corteva by 58.5% during the 3rd quarter. Union Savings Bank now owns 577 shares of the company’s stock valued at $30,000 after acquiring an additional 213 shares during the period. Essex Financial Services Inc. lifted its position in shares of Corteva by 3.2% during the 3rd quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock valued at $352,000 after acquiring an additional 215 shares during the period. Baxter Bros Inc. raised its holdings in Corteva by 1.2% during the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock worth $842,000 after buying an additional 215 shares during the last quarter. Finally, Albion Financial Group UT raised its holdings in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Shares of NYSE:CTVA opened at $53.90 on Friday. The stock has a market capitalization of $37.67 billion, a PE ratio of 52.84, a PEG ratio of 1.45 and a beta of 0.77. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average of $55.28 and a 200-day moving average of $50.56. Corteva has a 12 month low of $43.22 and a 12 month high of $61.07.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same period in the previous year, the firm posted $0.16 EPS. On average, equities research analysts predict that Corteva will post 2.84 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio is currently 62.75%.

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.