BMO Capital Markets Cuts Corteva (NYSE:CTVA) Price Target to $95.00

Corteva (NYSE:CTVA) had its price target lowered by BMO Capital Markets from $100.00 to $95.00 in a report released on Wednesday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. KeyCorp initiated coverage on Corteva in a report on Thursday, September 10th. They issued a “sector weight” rating on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $103.00 price target on shares of Corteva in a research note on Wednesday. Citigroup upped their price objective on shares of Corteva from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings lowered shares of Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Corteva from $77.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.90.

Corteva Stock Performance

Shares of Corteva stock opened at $80.48 on Wednesday. The business has a 50-day simple moving average of $83.12 and a 200 day simple moving average of $81.46. Corteva has a one year low of $60.53 and a one year high of $90.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. The firm has a market capitalization of $53.69 billion, a price-to-earnings ratio of 53.30, a PEG ratio of 2.50 and a beta of 0.57.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.60 billion. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, research analysts anticipate that Corteva will post 3.72 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.72 annualized dividend and a yield of 0.9%. Corteva’s dividend payout ratio (DPR) is 47.68%.

Institutional Trading of Corteva

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Corteva during the second quarter valued at approximately $4,560,180,000. Norges Bank purchased a new position in Corteva in the fourth quarter worth $504,001,000. Wellington Management Group LLP boosted its position in Corteva by 941.7% in the second quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company’s stock worth $644,720,000 after purchasing an additional 6,881,875 shares during the last quarter. Jupiter Topco LLC bought a new position in Corteva in the 2nd quarter valued at $544,246,000. Finally, Bank of America Corp DE bought a new position in Corteva in the 2nd quarter valued at $484,927,000. Institutional investors own 81.54% of the company’s stock.

Corteva Company Profile

Corteva, Inc is a global agricultural science company that develops and supplies seed, crop protection and digital agriculture solutions. Its products are designed to help farmers improve crop productivity, manage pests and weeds, and address changing environmental and agricultural conditions.

The company’s seed portfolio includes corn, soybean, wheat, sunflower, canola, cotton and other crop varieties marketed under brands such as Pioneer and Brevant. Corteva also provides herbicides, insecticides, fungicides and biological products, including solutions associated with its Enlist weed-control system and other crop protection technologies.

Corteva serves farmers, agricultural retailers and other customers across North America, Latin America, Europe, Asia and other international markets.