Corteva (NYSE:CTVA) Hits New 12-Month Low – Here’s Why

by · The Markets Daily

Corteva, Inc. (NYSE:CTVA – Get Free Report)’s share price reached a new 52-week low during trading on Tuesday. The stock traded as low as $11.71 and last traded at $11.7450, with a volume of 6,838,295 shares traded. The stock had previously closed at $11.95.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Argus reiterated a “buy” rating and issued a $91.00 target price on shares of Corteva in a report on Friday, September 18th. The Goldman Sachs Group restated a “buy” rating and issued a $20.00 price objective on shares of Corteva in a research note on Thursday, October 8th. BMO Capital Markets set a $15.00 target price on shares of Corteva in a research report on Friday, October 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of Corteva in a research note on Wednesday, October 7th. Finally, Mizuho increased their price target on shares of Corteva from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. Sixteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.59.

Read Our Latest Stock Report on CTVA

Corteva Price Performance

The company has a market cap of $7.82 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 1.74 and a beta of 0.57. The company has a fifty day moving average price of $58.49 and a two-hundred day moving average price of $73.97. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.24 by $0.06. Corteva had a return on equity of 10.18% and a net margin of 5.66%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same period last year, the business earned $2.20 earnings per share. Corteva’s quarterly revenue was down 1.2% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, equities research analysts anticipate that Corteva, Inc. will post 1.04 EPS for the current fiscal year.

Corteva Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a $0.05 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $0.20 annualized dividend and a dividend yield of 1.7%. This is a decrease from Corteva’s previous quarterly dividend of $0.18. Corteva’s dividend payout ratio is currently 13.25%.

Hedge Funds Weigh In On Corteva

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew its holdings in shares of Corteva by 1.6% during the third quarter. Asset Management One Co. Ltd. now owns 375,606 shares of the company’s stock worth $29,166,000 after purchasing an additional 5,828 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in Corteva by 37.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 58,360 shares of the company’s stock worth $4,532,000 after buying an additional 15,828 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Corteva by 9.9% during the 3rd quarter. Park Avenue Securities LLC now owns 26,502 shares of the company’s stock worth $2,058,000 after acquiring an additional 2,389 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Corteva by 81.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 17,627 shares of the company’s stock valued at $1,369,000 after purchasing an additional 7,918 shares during the last quarter. Finally, Sigma Planning Corp increased its holdings in shares of Corteva by 36.8% in the third quarter. Sigma Planning Corp now owns 5,378 shares of the company’s stock valued at $418,000 after purchasing an additional 1,446 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Company Profile

(Get Free Report)

Corteva, Inc (NYSE: CTVA) is an agriculture company that develops and supplies products and services designed to help farmers improve crop productivity, protect yields and manage agricultural challenges. Its business is organized primarily around seed and crop protection products.

The company’s seed portfolio includes branded corn, soybean, cotton, sunflower, canola and other crop varieties, supported by plant genetics and biotechnology. Its crop protection business offers herbicides, insecticides, fungicides and seed-applied treatments, along with biological and digital agriculture solutions intended to support crop health and farm-management decisions.

Corteva was formed through the separation of the agriculture division of DowDuPont and became an independent public company in 2019.

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