Cleveland Research began coverage on shares of Corteva (NYSE:CTVA) in a report published on Friday morning, The Fly reports. The firm issued a neutral rating on the stock.
Several other brokerages have also weighed in on CTVA. Zacks Investment Research raised Corteva from a sell rating to a hold rating in a report on Monday, May 18th. Royal Bank of Canada boosted their price objective on Corteva from $27.00 to $31.00 and gave the company an outperform rating in a report on Monday, May 11th. Deutsche Bank lowered their price objective on Corteva from $34.00 to $32.00 and set a buy rating for the company in a report on Friday, May 8th. Citigroup boosted their price objective on Corteva from $32.00 to $34.00 and gave the company a buy rating in a report on Friday, May 8th. Finally, Monness Crespi & Hardt lowered Corteva from a neutral rating to a sell rating and set a $24.00 price objective for the company. in a report on Monday, June 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $30.69.
NYSE:CTVA opened at $25.92 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.12 and a current ratio of 1.60. Corteva has a one year low of $20.38 and a one year high of $32.78. The business’s 50-day simple moving average is $26.46 and its 200 day simple moving average is $26.96. The stock has a market cap of $19.40 billion and a price-to-earnings ratio of -22.74.
Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.20. Corteva had a positive return on equity of 5.09% and a negative net margin of 5.91%. The business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.56 billion. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities research analysts predict that Corteva will post 1.36 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.52 annualized dividend and a dividend yield of 2.01%. Corteva’s dividend payout ratio is presently 36.36%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTVA. Quadrant Capital Group LLC lifted its position in Corteva by 20.8% in the fourth quarter. Quadrant Capital Group LLC now owns 7,551 shares of the company’s stock worth $209,000 after purchasing an additional 1,301 shares during the period. Cetera Advisor Networks LLC lifted its position in shares of Corteva by 8.5% during the 4th quarter. Cetera Advisor Networks LLC now owns 16,481 shares of the company’s stock valued at $492,000 after acquiring an additional 1,292 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Corteva by 7.3% during the 4th quarter. Natixis Advisors L.P. now owns 134,770 shares of the company’s stock valued at $3,983,000 after acquiring an additional 9,111 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Corteva during the 4th quarter valued at $850,000. Finally, West Bancorporation Inc. acquired a new stake in shares of Corteva during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 78.04% of the company’s stock.
Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.
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