Analysts Set Corteva, Inc. (NYSE:CTVA) PT at $67.73

Shares of Corteva, Inc. (NYSE:CTVA - Get Free Report) have received an average rating of "Moderate Buy" from the eighteen research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $67.73.

Several equities analysts have recently issued reports on CTVA shares. Oppenheimer boosted their target price on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Royal Bank of Canada raised their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. UBS Group decreased their price objective on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a report on Friday, January 10th. Wells Fargo & Company upped their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Finally, Citigroup boosted their price objective on shares of Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th.

Corteva Price Performance

NYSE CTVA traded down $1.08 on Friday, reaching $62.75. 2,476,698 shares of the company's stock traded hands, compared to its average volume of 3,578,375. The stock has a 50-day simple moving average of $60.74 and a 200 day simple moving average of $58.74. Corteva has a 12 month low of $50.01 and a 12 month high of $66.24. The stock has a market cap of $43.02 billion, a PE ratio of 48.64, a P/E/G ratio of 1.67 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, research analysts predict that Corteva will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Monday, March 3rd. Corteva's payout ratio is currently 52.71%.

Corteva declared that its board has authorized a share repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On Corteva

Institutional investors and hedge funds have recently made changes to their positions in the business. Flagship Wealth Advisors LLC bought a new stake in shares of Corteva during the 4th quarter valued at $25,000. Noble Wealth Management PBC bought a new stake in Corteva during the fourth quarter valued at about $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva in the fourth quarter worth about $27,000. Pinney & Scofield Inc. purchased a new position in shares of Corteva during the 4th quarter valued at about $27,000. Finally, LGT Financial Advisors LLC bought a new position in shares of Corteva during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 81.54% of the company's stock.

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.