Corteva (NYSE:CTVA) Price Target Raised to $65.00

Corteva (NYSE:CTVA) had its price objective upped by Canaccord Genuity Group from $60.00 to $65.00 in a research report report published on Friday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities analysts have also commented on CTVA. BMO Capital Markets raised their price target on shares of Corteva from $64.00 to $67.00 and gave the stock an outperform rating in a research report on Friday. BNP Paribas upgraded shares of Corteva from an underperform rating to a neutral rating and set a $53.00 price target for the company in a research report on Friday, February 2nd. Mizuho boosted their price target on Corteva from $56.00 to $61.00 and gave the company a buy rating in a research note on Thursday. Barclays upped their price target on shares of Corteva from $55.00 to $58.00 and gave the stock an equal weight rating in a report on Wednesday, April 10th. Finally, Wolfe Research began coverage on shares of Corteva in a research note on Friday, March 1st. They issued an outperform rating and a $67.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Corteva has a consensus rating of Moderate Buy and an average target price of $63.38.

Corteva Stock Performance

CTVA opened at $57.16 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. Corteva has a 12-month low of $43.22 and a 12-month high of $60.57. The business has a 50 day moving average of $55.37 and a 200-day moving average of $50.65. The stock has a market cap of $39.95 billion, a price-to-earnings ratio of 72.35, a PEG ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. Corteva’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 EPS. On average, equities research analysts expect that Corteva will post 2.83 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is 81.01%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CTVA. Redmont Wealth Advisors LLC bought a new stake in Corteva in the first quarter valued at $25,000. Rise Advisors LLC increased its position in Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after buying an additional 454 shares in the last quarter. Albion Financial Group UT raised its stake in Corteva by 77.2% during the 1st 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 period. CVA Family Office LLC bought a new position in Corteva in the fourth quarter worth approximately $25,000. Finally, Ironwood Wealth Management Inc. grew its stake in Corteva by 106.1% in the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after acquiring an additional 280 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

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.