Corteva (NYSE:CTVA) Receives New Coverage from Analysts at KeyCorp

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Research analysts at KeyCorp started coverage on shares of Corteva (NYSE:CTVA) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “sector weight” rating on the stock.

Other analysts have also recently issued research reports about the company. Credit Suisse Group reaffirmed a “hold” rating and issued a $31.00 price target on shares of Corteva in a research report on Sunday, February 2nd. Monness Crespi & Hardt raised Corteva from a “sell” rating to a “neutral” rating in a report on Tuesday, March 10th. Loop Capital downgraded Corteva from a “hold” rating to a “sell” rating and set a $23.00 price objective on the stock. in a research note on Thursday, January 23rd. Vertical Research assumed coverage on Corteva in a report on Thursday, December 19th. They issued a “hold” rating and a $27.00 target price for the company. Finally, UBS Group decreased their target price on Corteva from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $31.56.

Shares of NYSE:CTVA traded up $1.07 during midday trading on Wednesday, hitting $23.40. 5,823,547 shares of the stock were exchanged, compared to its average volume of 5,827,654. Corteva has a 52-week low of $20.38 and a 52-week high of $32.78. The business’s fifty day simple moving average is $27.69 and its two-hundred day simple moving average is $27.40. The company has a market capitalization of $17.18 billion and a PE ratio of 16.36.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.19. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the prior year, the business posted ($0.10) earnings per share. Corteva’s revenue was up 6.0% on a year-over-year basis. On average, analysts anticipate that Corteva will post 1.46 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in CTVA. Boston Partners raised its stake in Corteva by 153.2% during the 4th quarter. Boston Partners now owns 22,504,735 shares of the company’s stock valued at $665,132,000 after purchasing an additional 13,616,097 shares during the last quarter. Norges Bank acquired a new stake in Corteva in the 4th quarter worth $122,993,000. Massachusetts Financial Services Co. MA grew its position in Corteva by 63.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,818,943 shares of the company’s stock worth $201,568,000 after purchasing an additional 2,646,205 shares during the last quarter. Capital International Investors increased its holdings in shares of Corteva by 82.7% during the 4th quarter. Capital International Investors now owns 5,026,646 shares of the company’s stock worth $148,588,000 after purchasing an additional 2,275,287 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Corteva by 182.0% during the 4th quarter. Van ECK Associates Corp now owns 3,524,959 shares of the company’s stock worth $104,197,000 after purchasing an additional 2,274,995 shares during the period. Institutional investors and hedge funds own 80.65% of the company’s stock.

About Corteva

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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