Corteva (NYSE:CTVA) Now Covered by Analysts at Cleveland Research

Analysts at Cleveland Research began coverage on shares of Corteva (NYSE:CTVA) in a research report issued on Friday, The Fly reports. The brokerage set a “neutral” rating on the stock.

A number of other research analysts have also commented on the stock. CSFB cut their price objective on shares of Corteva from $31.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Barclays cut their price objective on shares of Corteva from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Credit Suisse Group cut their price objective on shares of Corteva from $31.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Monness Crespi & Hardt lowered shares of Corteva from a “neutral” rating to a “sell” rating and set a $24.00 price objective for the company. in a research report on Monday, June 8th. Finally, Zacks Investment Research raised shares of Corteva from a “sell” rating to a “hold” rating in a research report on Monday, May 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $30.69.

Corteva stock traded down $0.09 on Friday, reaching $26.11. 2,930 shares of the stock were exchanged, compared to its average volume of 4,873,359. The stock has a market cap of $19.51 billion and a PE ratio of -22.73. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.03. Corteva has a twelve month low of $20.38 and a twelve month high of $32.78. The firm has a fifty day moving average price of $26.44 and a two-hundred day moving average price of $26.95.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.20. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.56 billion. Corteva had a negative net margin of 5.91% and a positive return on equity of 5.09%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. Equities analysts anticipate that Corteva will post 1.36 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Aristotle Capital Management LLC grew its stake in Corteva by 80.1% during the first quarter. Aristotle Capital Management LLC now owns 24,927,669 shares of the company’s stock worth $585,800,000 after buying an additional 11,086,514 shares during the last quarter. Invesco Ltd. grew its stake in Corteva by 1.8% during the first quarter. Invesco Ltd. now owns 22,343,243 shares of the company’s stock worth $525,068,000 after buying an additional 402,160 shares during the last quarter. Geode Capital Management LLC grew its stake in Corteva by 2.2% during the first quarter. Geode Capital Management LLC now owns 12,229,227 shares of the company’s stock worth $286,851,000 after buying an additional 258,155 shares during the last quarter. Bank of America Corp DE grew its stake in Corteva by 12.5% during the fourth quarter. Bank of America Corp DE now owns 8,249,373 shares of the company’s stock worth $243,851,000 after buying an additional 919,616 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Corteva by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 6,860,822 shares of the company’s stock worth $161,232,000 after buying an additional 289,695 shares during the last quarter. 78.04% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Company Profile

Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.

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Analyst Recommendations for Corteva (NYSE:CTVA)

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