Shares of Corteva, Inc. (NYSE:CTVA) have received a consensus rating of “Moderate Buy” from twenty-two research firms following recent evaluations. According to Marketbeat, six analysts recommend holding the stock, while sixteen suggest a buy. The average twelve-month price target among analysts is set at $78.21.
Recent assessments of Corteva have varied among analysts. On November 17, BNP Paribas Exane raised its price target from $70.00 to $72.00, maintaining a “neutral” rating. Conversely, Mizuho adjusted its target down from $85.00 to $78.00, issuing an “outperform” rating on October 8. Similarly, Deutsche Bank Aktiengesellschaft reduced its price target from $90.00 to $85.00, while UBS Group lowered its target from $85.00 to $81.00 on October 30.
Corteva’s stock opened at $66.39 on Thursday, reflecting a market capitalization of $44.86 billion. The company has a price-to-earnings (P/E) ratio of 28.37 and a price-to-earnings-growth ratio of 1.50. The stock has fluctuated between a one-year low of $53.40 and a high of $77.41. As of now, the fifty-day moving average stands at $64.54, while the two-hundred-day moving average is $69.31. Corteva also maintains a debt-to-equity ratio of 0.07, with a quick ratio of 1.07 and a current ratio of 1.58.
On November 4, Corteva announced its quarterly earnings, revealing earnings per share (EPS) of ($0.23), surpassing analysts’ expectations of ($0.49) by $0.26. Revenue for the quarter reached $2.62 billion, exceeding the consensus estimate of $2.47 billion. The company reported a net margin of 9.19% and a return on equity of 9.37%, marking a 6.5% increase in revenue compared to the same quarter last year.
Corteva also recently announced a quarterly dividend of $0.18 per share, which was paid on December 15 to shareholders of record as of December 1. This payment represents an annualized dividend of $0.72, yielding 1.1%. The dividend payout ratio stands at 30.77%.
Corteva, established in mid-2019 following the separation of the agriculture businesses from DowDuPont, operates as an independent global agriculture company. It focuses on delivering technologies and products that assist farmers in enhancing productivity and managing crop health. Corteva’s operations encompass seed genetics, crop protection chemistries, digital tools, and biological solutions that address the full cycle of crop production. Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products, and the development of seed treatments and biologicals.
