Corteva (NYSE:CTVA) Price Target Raised to $75.00

Corteva (NYSE:CTVA) had its price target raised by JPMorgan Chase & Co. from $70.00 to $75.00 in a research note released on Wednesday, MarketBeat reports. They currently have an overweight rating on the stock.

Several other research analysts have also weighed in on the stock. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Rothschild & Co Redburn cut their price target on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Royal Bank Of Canada lowered their price objective on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Mizuho increased their target price on Corteva from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Finally, Argus upgraded Corteva to a “strong-buy” rating in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $79.47.

Corteva Price Performance

CTVA stock opened at $71.68 on Wednesday. The stock has a market capitalization of $48.44 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 1.82 and a beta of 0.74. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. Corteva has a 52-week low of $53.40 and a 52-week high of $77.41. The stock’s fifty day simple moving average is $67.26 and its 200-day simple moving average is $68.46.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the firm posted ($0.49) earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that Corteva will post 2.96 EPS for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, December 1st. Corteva’s dividend payout ratio is currently 30.77%.

Institutional Investors Weigh In On Corteva

Several institutional investors and hedge funds have recently modified their holdings of CTVA. Farther Finance Advisors LLC grew its stake in shares of Corteva by 31.0% in the fourth quarter. Farther Finance Advisors LLC now owns 8,411 shares of the company’s stock valued at $564,000 after buying an additional 1,989 shares in the last quarter. Bingham Private Wealth LLC acquired a new stake in Corteva in the fourth quarter valued at approximately $280,000. Tyche Wealth Partners LLC purchased a new stake in shares of Corteva during the fourth quarter valued at approximately $677,000. Eagle Bay Advisors LLC acquired a new position in shares of Corteva during the fourth quarter worth $239,000. Finally, Third View Private Wealth LLC purchased a new position in shares of Corteva in the fourth quarter valued at $722,000. Hedge funds and other institutional investors 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.