Corteva (NYSE:CTVA) PT Raised to $69.00 at Oppenheimer

Corteva (NYSE:CTVA) had its target price boosted by Oppenheimer from $67.00 to $69.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada upped their price target on Corteva from $56.00 to $64.00 and gave the company an outperform rating in a report on Friday, February 2nd. UBS Group dropped their price target on Corteva from $65.00 to $64.00 and set a buy rating on the stock in a report on Thursday, January 11th. Wolfe Research started coverage on Corteva in a report on Friday, March 1st. They issued an outperform rating and a $67.00 price target on the stock. KeyCorp upped their price target on Corteva from $63.00 to $66.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $57.00 price target (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $63.24.

Corteva Stock Performance

CTVA opened at $56.36 on Friday. The company has a market capitalization of $39.28 billion, a price-to-earnings ratio of 71.34, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. Corteva has a 1-year low of $43.22 and a 1-year high of $59.04. The business has a 50 day moving average price of $55.40 and a two-hundred day moving average price of $50.69.

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

Corteva Dividend Announcement

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

Hedge Funds Weigh In On Corteva

Several institutional investors and hedge funds have recently modified their holdings of the stock. CVA Family Office LLC bought a new stake in Corteva in the fourth quarter worth $25,000. Redmont Wealth Advisors LLC bought a new stake in Corteva in the first quarter worth $25,000. BKM Wealth Management LLC bought a new stake in Corteva in the fourth quarter worth $27,000. Rise Advisors LLC boosted its holdings in Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares in the last quarter. Finally, NewSquare Capital LLC boosted its holdings in Corteva by 70.6% in the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after purchasing an additional 226 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Company Profile

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.