Corteva (NYSE:CTVA) Updates FY 2024 Earnings Guidance

Corteva (NYSE:CTVA) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.500-2.600 for the period, compared to the consensus earnings per share estimate of 2.670. The company issued revenue guidance of $17.0 billion-$17.2 billion, compared to the consensus revenue estimate of $17.2 billion. Corteva also updated its FY 2025 guidance to EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group boosted their price target on shares of Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday. KeyCorp reduced their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Citigroup began coverage on Corteva in a research note on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective for the company. Finally, Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average target price of $63.47.

Corteva Trading Down 0.5 %

Corteva stock traded down $0.31 during midday trading on Friday, hitting $58.33. 4,673,783 shares of the stock were exchanged, 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 stock has a market capitalization of $40.38 billion, a price-to-earnings ratio of 58.92, a PEG ratio of 1.78 and a beta of 0.77. The stock’s 50-day simple moving average is $58.19 and its 200 day simple moving average is $55.59. Corteva has a fifty-two week low of $43.22 and a fifty-two week high of $63.75.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.17%. Corteva’s dividend payout ratio is currently 68.69%.

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.