UBS Group Issues Positive Forecast for Corteva (NYSE:CTVA) Stock Price

Corteva (NYSE:CTVA) had its target price raised by UBS Group from $67.00 to $71.00 in a research note released on Thursday,Benzinga reports. UBS Group currently has a buy rating on the stock.

CTVA has been the subject of several other research reports. KeyCorp lowered their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Citigroup began coverage on shares of Corteva in a research report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price target for the company. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.47.

Corteva Price Performance

CTVA stock traded down $0.41 during trading on Thursday, hitting $58.23. 2,254,858 shares of the stock traded hands, compared to its average volume of 3,258,583. Corteva has a one year low of $43.22 and a one year high of $63.75. The stock has a market cap of $40.31 billion, a price-to-earnings ratio of 45.02, a P/E/G ratio of 1.76 and a beta of 0.77. The company has a 50 day simple moving average of $58.14 and a 200 day simple moving average of $55.55. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.18). The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.69 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. Equities analysts expect that Corteva will post 2.66 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.17%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is currently 52.31%.

Institutional Trading of Corteva

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Corteva during the first quarter worth $25,000. Capital Advisors Ltd. LLC raised its position in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares in the last quarter. Cultivar Capital Inc. bought a new stake in Corteva during the second quarter worth $34,000. Redwood Wealth Management Group LLC acquired a new position in shares of Corteva in the second quarter valued at $43,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of Corteva in the second quarter valued at $45,000. 81.54% of the stock is owned by institutional investors.

Corteva Company Profile

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.