Brokerages Set Corteva, Inc. (NYSE:CTVA) Target Price at $91.90

Corteva, Inc. (NYSE:CTVA) has been given a consensus recommendation of “Moderate Buy” by the twenty-three analysts that are currently covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $91.9048.

CTVA has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. UBS Group increased their price objective on shares of Corteva from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $103.00 target price on shares of Corteva in a report on Wednesday, September 16th. 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, Zacks Research lowered shares of Corteva from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th.

Corteva Stock Down 1.8%

Corteva stock opened at $79.05 on Friday. The business’s 50-day simple moving average is $82.98 and its two-hundred day simple moving average is $81.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52. The company has a market cap of $52.74 billion, a PE ratio of 52.35, a PEG ratio of 2.47 and a beta of 0.57. Corteva has a fifty-two week low of $60.53 and a fifty-two week high of $90.97.

Corteva (NYSE:CTVA) last announced its quarterly earnings data 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 firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.60 billion. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Equities analysts anticipate that Corteva will post 3.72 EPS for the current year.

Corteva Announces Dividend

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

Institutional Trading of Corteva

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Corteva in the 2nd quarter worth approximately $4,560,180,000. Franklin Resources Inc. increased its holdings in shares of Corteva by 4.3% during 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 lifted its stake in shares of Corteva by 1.0% in 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 period. Wellington Management Group LLP lifted its stake in shares of Corteva by 941.7% in 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 period. Finally, Norges Bank purchased a new stake in Corteva during the fourth quarter worth $504,001,000. 81.54% of the stock is owned by institutional investors and hedge funds.

About Corteva

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.