Corteva (NYSE:CTVA) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Corteva (NYSE:CTVA) from a buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Corteva, Inc. provides agriculture products. The company develops and supplies germplasm and traits in corn, soybean and sunflower seed markets. It also supplies products to the agricultural input industry which protect against weeds, insects and other pests, and diseases as well as to enhance crop health. Corteva, Inc. is based in Wilmington, Delaware. “

Several other equities analysts have also recently weighed in on CTVA. TheStreet upgraded Corteva from a d+ rating to a b rating in a research note on Wednesday, October 13th. Roth Capital assumed coverage on Corteva in a research note on Friday, October 8th. They issued a buy rating and a $53.00 price objective on the stock. Mizuho began coverage on Corteva in a report on Tuesday, October 12th. They set a buy rating and a $53.00 target price for the company. Citigroup boosted their price objective on Corteva from $55.00 to $57.00 in a report on Tuesday. Finally, Loop Capital lowered Corteva from a buy rating to a hold rating in a report on Monday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Corteva currently has an average rating of Buy and an average target price of $51.29.

Shares of Corteva stock opened at $48.60 on Wednesday. The company has a market capitalization of $35.43 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.20 and a beta of 0.79. The company has a quick ratio of 1.25, a current ratio of 1.81 and a debt-to-equity ratio of 0.04. Corteva has a 12-month low of $36.54 and a 12-month high of $49.98. The firm’s 50-day moving average price is $47.26 and its two-hundred day moving average price is $44.69.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, November 2nd. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.17. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Corteva had a net margin of 10.67% and a return on equity of 6.24%. During the same quarter in the prior year, the business earned ($0.39) earnings per share. On average, sell-side analysts expect that Corteva will post 2.14 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Friday, November 12th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, November 10th. Corteva’s dividend payout ratio (DPR) is presently 25.45%.

In other Corteva news, Director Klaus A. Engel sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 8th. The stock was sold at an average price of $47.12, for a total transaction of $188,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.19% of the company’s stock.

Several institutional investors have recently made changes to their positions in CTVA. Pinnacle Bancorp Inc. bought a new stake in Corteva during the 3rd quarter valued at $26,000. Guidance Point Advisors LLC bought a new stake in Corteva during the 3rd quarter valued at $31,000. Evermay Wealth Management LLC bought a new stake in Corteva during the 2nd quarter valued at $46,000. SRS Capital Advisors Inc. raised its position in Corteva by 20.7% during the 3rd quarter. SRS Capital Advisors Inc. now owns 1,306 shares of the company’s stock valued at $55,000 after purchasing an additional 224 shares in the last quarter. Finally, Koshinski Asset Management Inc. bought a new stake in Corteva during the 3rd quarter valued at $57,000. Hedge funds and other institutional investors own 78.32% of the company’s stock.

Corteva Company Profile

Corteva, Inc operates as a holding company. It engages in the provision of agricultural products. The firm operates through the following segments: Seed and Crop Protection. The Seed segment develops and supplies germplasm and traits that produce optimum yield for farms. The Crop Protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies.

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