Royal Bank of Canada Increases Corteva (NYSE:CTVA) Price Target to $64.00

Corteva (NYSE:CTVA) had its price objective upped by Royal Bank of Canada from $62.00 to $64.00 in a research report released on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on CTVA. BNP Paribas raised Corteva from an underperform rating to a neutral rating and set a $53.00 price target for the company in a research report on Friday, February 2nd. BMO Capital Markets boosted their price objective on Corteva from $64.00 to $67.00 and gave the stock an outperform rating in a research note on Friday. Barclays boosted their price target on shares of Corteva from $55.00 to $58.00 and gave the stock an equal weight rating in a research report on Wednesday, April 10th. Loop Capital raised Corteva from a hold rating to a buy rating and raised their target price for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. Finally, UBS Group reduced their price target on shares of Corteva from $65.00 to $64.00 and set a buy rating on the stock in a research report on Thursday, January 11th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $63.24.

Corteva Stock Down 1.4 %

NYSE CTVA opened at $56.36 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. Corteva has a 52 week low of $43.22 and a 52 week high of $59.04. The firm has a market capitalization of $39.28 billion, a price-to-earnings ratio of 71.34, a PEG ratio of 1.50 and a beta of 0.78. The company has a fifty day moving average of $55.40 and a two-hundred day moving average of $50.69.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. Corteva’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. On average, analysts predict that Corteva will post 2.83 earnings per share for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.14%. Corteva’s payout ratio is 81.01%.

Institutional Investors Weigh In On Corteva

Hedge funds have recently modified their holdings of the business. CVA Family Office LLC acquired a new position in shares of Corteva in the 4th quarter worth approximately $25,000. Redmont Wealth Advisors LLC bought a new position in shares of Corteva during the 1st quarter worth approximately $25,000. BKM Wealth Management LLC bought a new position in Corteva in the fourth quarter valued at approximately $27,000. Rise Advisors LLC increased its stake in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares during the last quarter. Finally, NewSquare Capital LLC lifted its holdings in Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after purchasing an additional 226 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

About Corteva

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.