Corteva (NYSE:CTVA) Releases FY24 Earnings Guidance

Corteva (NYSE:CTVA) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.50-2.60 for the period, compared to the consensus earnings per share estimate of $2.67. The company issued revenue guidance of $17.0-17.2 billion, compared to the consensus revenue estimate of $17.21 billion. Corteva also updated its FY 2024 guidance to 2.500-2.600 EPS.

Corteva Trading Down 0.5 %

NYSE CTVA traded down $0.31 on Friday, hitting $58.33. The company’s stock had a trading volume of 4,673,783 shares, compared to its average volume of 2,825,427. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The firm has a market cap of $40.38 billion, a P/E ratio of 58.92, a PEG ratio of 1.78 and a beta of 0.77. The company’s 50-day simple moving average is $58.19 and its 200 day simple moving average is $55.59. Corteva has a 52-week low of $43.22 and a 52-week high of $63.75.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.17%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Analyst Upgrades and Downgrades

CTVA has been the topic of several research analyst reports. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Morgan Stanley reissued an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Oppenheimer restated an “outperform” rating and set a $70.00 price target (up from $69.00) on shares of Corteva in a research report on Friday. UBS Group increased their price objective on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday. Finally, KeyCorp dropped their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.47.

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.