Corteva (NYSE:CTVA) Price Target Raised to $80.00

Corteva (NYSE:CTVA) had its price target boosted by Mizuho from $78.00 to $80.00 in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently commented on CTVA. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a report on Thursday, October 2nd. Wolfe Research increased their price target on shares of Corteva from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Wall Street Zen lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Corteva in a research report on Monday, December 29th. Finally, Wells Fargo & Company cut their target price on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Sixteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.84.

Corteva Trading Down 1.2%

NYSE CTVA opened at $69.65 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. Corteva has a 1-year low of $53.40 and a 1-year high of $77.41. The firm’s fifty day simple moving average is $66.79 and its 200-day simple moving average is $68.56. The company has a market capitalization of $47.06 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.74.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the company posted ($0.49) earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Corteva will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.18 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s payout ratio is presently 30.77%.

Institutional Trading of Corteva

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gladwyn Financial Advisors Inc. bought a new stake in shares of Corteva in the second quarter valued at approximately $25,000. Activest Wealth Management raised its stake in Corteva by 118.3% during the 3rd quarter. Activest Wealth Management now owns 369 shares of the company’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. JPL Wealth Management LLC bought a new stake in Corteva in the 3rd quarter valued at $25,000. True Wealth Design LLC grew its position in Corteva by 209.5% in the 3rd quarter. True Wealth Design LLC now owns 390 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares during the last quarter. Finally, Total Investment Management Inc. bought a new position in shares of Corteva during the 2nd quarter worth about $27,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Company Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.