Corteva (NYSE:CTVA) Announces Quarterly Earnings Results

Corteva (NYSE:CTVA) issued its quarterly earnings data on Wednesday. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02), Zacks reports. Corteva had a return on equity of 6.63% and a net margin of 4.18%. Corteva updated its FY 2025 guidance to 2.700-2.950 EPS.

Corteva Trading Up 2.7 %

Corteva stock traded up $1.69 during mid-day trading on Friday, hitting $64.05. The company’s stock had a trading volume of 151,538 shares, compared to its average volume of 3,586,620. The business has a 50 day moving average price of $60.22 and a 200-day moving average price of $58.14. Corteva has a 12 month low of $50.01 and a 12 month high of $66.24. The stock has a market cap of $44.02 billion, a price-to-earnings ratio of 64.72, a price-to-earnings-growth ratio of 1.71 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is currently 68.69%.

Corteva declared that its Board of Directors has approved a share repurchase program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on CTVA shares. Wells Fargo & Company upped their target price on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. UBS Group reduced their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Barclays boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Oppenheimer reiterated an “outperform” rating and set a $70.00 price target (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Finally, Bank of America boosted their price objective on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.06.

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.