Corteva (NASDAQ:CTVA) Upgraded by Royal Bank of Canada to Outperform

Royal Bank of Canada upgraded shares of Corteva (NASDAQ:CTVA) from a sector perform rating to an outperform rating in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. The brokerage currently has $38.00 price objective on the stock, up from their prior price objective of $29.00.

Other research analysts also recently issued research reports about the stock. Nomura started coverage on shares of Corteva in a research report on Monday, June 10th. They set a neutral rating and a $28.00 price target for the company. Macquarie started coverage on shares of Corteva in a research report on Tuesday, June 4th. They set an outperform rating for the company. Monness Crespi & Hardt started coverage on shares of Corteva in a research report on Wednesday, July 17th. They set a sell rating and a $24.00 price target for the company. SunTrust Banks started coverage on shares of Corteva in a research report on Monday, June 3rd. They set a hold rating and a $29.00 price target for the company. Finally, Sanford C. Bernstein started coverage on shares of Corteva in a research report on Wednesday, June 5th. They set a market perform rating and a $31.00 price target for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Corteva presently has a consensus rating of Hold and a consensus price target of $31.86.

Shares of CTVA stock traded up $0.02 during mid-day trading on Friday, hitting $31.63. 3,515,938 shares of the stock were exchanged, compared to its average volume of 6,919,487. The stock’s fifty day moving average price is $28.67. Corteva has a 52-week low of $24.35 and a 52-week high of $32.78.

Corteva (NASDAQ:CTVA) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.43. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.47 billion. The business’s revenue was down 3.1% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, July 31st will be issued a $0.13 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.64%.

In other Corteva news, Director Gregory R. Page acquired 2,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was bought at an average price of $25.49 per share, for a total transaction of $50,980.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

A number of hedge funds have recently added to or reduced their stakes in the business. Litman Gregory Asset Management LLC acquired a new stake in Corteva in the 2nd quarter valued at about $26,000. Executive Wealth Management LLC acquired a new stake in Corteva in the 2nd quarter valued at about $27,000. SRS Capital Advisors Inc. acquired a new stake in Corteva in the 2nd quarter valued at about $30,000. Manchester Financial Inc. acquired a new stake in Corteva in the 2nd quarter valued at about $30,000. Finally, Central Bank & Trust Co. acquired a new stake in Corteva in the 2nd quarter valued at about $31,000.

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Analyst Recommendations for Corteva (NASDAQ:CTVA)

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