Corteva’s (CTVA) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of Corteva (NYSE:CTVA) in a report published on Wednesday, Marketbeat reports. The brokerage currently has a $103.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Zacks Research lowered shares of Corteva from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. KeyCorp began coverage on shares of Corteva in a research report on Thursday, September 10th. They issued a “sector weight” rating for the company. Barclays boosted their target price on shares of Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Finally, JPMorgan Chase & Co. increased their price target 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 research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.90.

Corteva Price Performance

Shares of NYSE CTVA opened at $80.48 on Wednesday. The business has a fifty day moving average price of $83.12 and a two-hundred day moving average price of $81.46. The stock has a market capitalization of $53.69 billion, a PE ratio of 53.30, a P/E/G ratio of 2.50 and a beta of 0.57. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. Corteva has a fifty-two week low of $60.53 and a fifty-two week high of $90.97.

Corteva (NYSE:CTVA) last released its 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 company 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%.Corteva’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.20 EPS. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, equities analysts predict that Corteva will post 3.72 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.18 dividend. The ex-dividend date of this dividend 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Corteva in the second quarter worth about $4,560,180,000. Franklin Resources Inc. boosted its stake in shares of Corteva by 4.3% in the 4th quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock valued at $1,309,599,000 after purchasing an additional 805,873 shares in the last quarter. Independent Franchise Partners LLP grew its holdings in shares of Corteva by 1.0% during the 4th quarter. Independent Franchise Partners LLP now owns 10,495,388 shares of the company’s stock valued at $703,506,000 after purchasing an additional 107,434 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Corteva by 941.7% during the 2nd quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company’s stock valued at $644,720,000 after purchasing an additional 6,881,875 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Corteva by 202.1% during the 1st quarter. Royal Bank of Canada now owns 7,458,624 shares of the company’s stock worth $624,362,000 after purchasing an additional 4,989,371 shares in the last quarter. 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.