Research Analysts’ Recent Ratings Updates for Corteva (CTVA)

Several analysts have recently updated their ratings and price targets for Corteva (NYSE: CTVA):

• 8/7/2024 – Corteva was downgraded by analysts at Argus from a “buy” rating to a “hold” rating.
• 8/2/2024 – Corteva had its price target lowered by analysts at Wells Fargo & Company from $67.00 to $65.00. They now have an “overweight” rating on the stock.
• 8/2/2024 – Corteva had its price target lowered by analysts at KeyCorp from $66.00 to $62.00. They now have an “overweight” rating on the stock.
• 8/2/2024 – Corteva had its price target lowered by analysts at JPMorgan Chase & Co. from $57.00 to $55.00. They now have a “neutral” rating on the stock.
• 6/18/2024 – Corteva had its price target lowered by analysts at Mizuho from $61.00 to $60.00. They now have a “buy” rating on the stock.

Corteva Stock Up 2.1 %

NYSE:CTVA traded up $1.12 during trading hours on Friday, hitting $53.88. 1,476,375 shares of the company’s stock traded hands, compared to its average volume of 3,362,780. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.72. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.76. The stock’s fifty day moving average price is $52.87 and its two-hundred day moving average price is $54.26. The firm has a market cap of $37.55 billion, a P/E ratio of 68.20, a P/E/G ratio of 1.46 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same period in the prior year, the firm posted $1.60 EPS. Corteva’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, research analysts expect that Corteva, Inc. will post 2.73 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a $0.17 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 1.26%. Corteva’s dividend payout ratio is currently 86.08%.

Institutional Investors Weigh In On Corteva

A number of large investors have recently added to or reduced their stakes in CTVA. International Assets Investment Management LLC acquired a new stake in Corteva during the 4th quarter worth about $4,852,000. Allspring Global Investments Holdings LLC grew its position in shares of Corteva by 4.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 42,470 shares of the company’s stock valued at $2,035,000 after purchasing an additional 1,898 shares in the last quarter. Cerity Partners LLC grew its position in shares of Corteva by 27.1% during the 4th quarter. Cerity Partners LLC now owns 51,759 shares of the company’s stock valued at $2,480,000 after purchasing an additional 11,034 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Corteva in the fourth quarter worth $2,041,000. Finally, Xponance Inc. raised its stake in shares of Corteva by 3.8% during the fourth quarter. Xponance Inc. now owns 90,297 shares of the company’s stock valued at $4,327,000 after acquiring an additional 3,284 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

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.