Cleveland Research initiated coverage on shares of Corteva (NYSE:CTVA) in a report released on Friday morning, The Fly reports. The brokerage issued a neutral rating on the stock.
A number of other equities analysts have also recently weighed in on the stock. Monness Crespi & Hardt cut shares of Corteva from a neutral rating to a sell rating and set a $24.00 price target on the stock. in a research report on Monday, June 8th. Susquehanna Bancshares raised shares of Corteva from a neutral rating to a positive rating and reduced their price target for the stock from $34.00 to $29.00 in a research report on Tuesday, March 31st. Deutsche Bank reduced their price target on shares of Corteva from $34.00 to $32.00 and set a buy rating on the stock in a research report on Friday, May 8th. CSFB reduced their price target on shares of Corteva from $31.00 to $28.00 and set a neutral rating on the stock in a research report on Tuesday, May 5th. Finally, Royal Bank of Canada boosted their price objective on shares of Corteva from $27.00 to $31.00 and gave the company an outperform rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Corteva has a consensus rating of Hold and an average price target of $30.69.
Shares of CTVA stock opened at $25.92 on Friday. Corteva has a 52-week low of $20.38 and a 52-week high of $32.78. The stock has a market cap of $19.40 billion and a PE ratio of -22.74. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.12 and a current ratio of 1.60. The firm’s 50 day moving average price is $26.46 and its two-hundred day moving average price is $26.96.
Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.20. The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Corteva had a negative net margin of 5.91% and a positive return on equity of 5.09%. The firm’s revenue was up 16.5% on a year-over-year basis. As a group, sell-side analysts predict that Corteva will post 1.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.52 annualized dividend and a dividend yield of 2.01%. Corteva’s dividend payout ratio is presently 36.36%.
Institutional investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. boosted its holdings in shares of Corteva by 1.3% during the 4th quarter. Panagora Asset Management Inc. now owns 29,485 shares of the company’s stock worth $872,000 after buying an additional 384 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Corteva by 21.8% during the 1st quarter. Versant Capital Management Inc now owns 2,239 shares of the company’s stock worth $52,000 after buying an additional 401 shares during the period. Center for Financial Planning Inc. boosted its holdings in shares of Corteva by 63.5% during the 1st quarter. Center for Financial Planning Inc. now owns 1,102 shares of the company’s stock worth $26,000 after buying an additional 428 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Corteva by 1.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 24,469 shares of the company’s stock worth $575,000 after buying an additional 431 shares during the period. Finally, Ameritas Investment Company LLC boosted its holdings in shares of Corteva by 15.1% during the 4th quarter. Ameritas Investment Company LLC now owns 3,322 shares of the company’s stock worth $98,000 after buying an additional 435 shares during the period. Institutional investors own 78.04% of the company’s stock.
Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.
Featured Article: Intrinsic Value and Stock Selection
Receive News & Ratings for Corteva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corteva and related companies with MarketBeat.com's FREE daily email newsletter.