Corteva, Inc. (NYSE:CTVA) Given Average Rating of "Moderate Buy" by Brokerages

Corteva, Inc. (NYSE:CTVA - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twenty-one research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $62.21.

Several equities analysts have recently weighed in on the company. KeyCorp cut their price objective on Corteva from $66.00 to $62.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. Argus cut Corteva from a "buy" rating to a "hold" rating in a report on Wednesday, August 7th. Wells Fargo & Company cut their price objective on Corteva from $67.00 to $65.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. Bank of America upgraded Corteva from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $59.00 to $67.00 in a report on Wednesday. Finally, Morgan Stanley reiterated an "overweight" rating and set a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CTVA. Capital International Investors increased its holdings in shares of Corteva by 2.6% during the 1st quarter. Capital International Investors now owns 26,437,457 shares of the company's stock worth $1,524,648,000 after acquiring an additional 678,722 shares during the last quarter. Van ECK Associates Corp boosted its stake in Corteva by 7.2% in the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company's stock valued at $527,409,000 after purchasing an additional 617,030 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Corteva by 28.4% in the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company's stock valued at $369,106,000 after acquiring an additional 1,514,954 shares in the last quarter. Legal & General Group Plc raised its stake in Corteva by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 6,741,972 shares of the company's stock worth $363,662,000 after purchasing an additional 61,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Corteva by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company's stock valued at $250,786,000 after purchasing an additional 224,423 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Price Performance

Shares of CTVA opened at $59.42 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva has a 1 year low of $43.22 and a 1 year high of $59.68. The stock has a market cap of $41.41 billion, a P/E ratio of 75.22, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The stock's 50-day moving average price is $56.36 and its two-hundred day moving average price is $55.09.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm had revenue of $6.11 billion for the quarter, compared to analysts' expectations of $6.15 billion. During the same quarter last year, the business earned $1.60 earnings per share. The company's revenue was up 1.1% compared to the same quarter last year. On average, equities analysts predict that Corteva will post 2.66 earnings per share for the current year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This is a positive change from Corteva's previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. Corteva's payout ratio is 86.08%.

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.