Corteva (NYSE:CTVA) PT Raised to $64.00 at Royal Bank of Canada

Corteva (NYSE:CTVA) had its target price increased by equities research analysts at Royal Bank of Canada from $62.00 to $64.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 11.27% from the stock’s previous close.

Several other research analysts have also recently commented on CTVA. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Barclays increased their target price on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Corteva from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday. KeyCorp raised their price objective on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Oppenheimer upped their target price on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.24.

Corteva Stock Up 2.1 %

NYSE CTVA opened at $57.52 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 fifty-two week low of $43.22 and a fifty-two week high of $59.04. The business has a 50 day moving average price of $55.45 and a two-hundred day moving average price of $50.74. The stock has a market cap of $40.09 billion, a PE ratio of 72.81, a P/E/G ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Corteva will post 2.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Corteva

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital International Investors grew its stake in shares of Corteva by 47.2% in the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after purchasing an additional 8,260,808 shares in the last quarter. Norges Bank bought a new stake in shares of Corteva during the 4th quarter worth about $265,298,000. Harris Associates L P acquired a new stake in shares of Corteva in the 3rd quarter worth approximately $246,423,000. Van ECK Associates Corp boosted its holdings in shares of Corteva by 78.7% in the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock valued at $391,123,000 after acquiring an additional 3,366,106 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Corteva by 29.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock valued at $567,624,000 after acquiring an additional 2,545,570 shares during the period. 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.