Corteva, Inc. to Issue Quarterly Dividend of $0.16 (NYSE:CTVA)

Corteva, Inc. (NYSE:CTVA) declared a quarterly dividend on Friday, April 26th, RTT News reports. Investors of record on Tuesday, June 4th will be paid a dividend of 0.16 per share on Tuesday, June 18th. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Tuesday, June 4th.

Corteva has increased its dividend payment by an average of 6.0% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Corteva has a payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Corteva to earn $3.47 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 18.4%.

Corteva Stock Up 0.4 %

CTVA opened at $54.92 on Friday. The stock has a market capitalization of $38.38 billion, a price-to-earnings ratio of 53.84, a price-to-earnings-growth ratio of 1.43 and a beta of 0.77. Corteva has a 12 month low of $43.22 and a 12 month high of $61.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The business has a 50-day moving average of $55.28 and a two-hundred day moving average of $50.46.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same quarter last year, the firm posted $0.16 earnings per share. On average, research analysts expect that Corteva will post 2.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of research reports. Wolfe Research began coverage on Corteva in a report on Friday, March 1st. They set an “outperform” rating and a $67.00 target price for the company. BNP Paribas upgraded shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a report on Friday, February 2nd. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and raised their price objective for the company from $57.00 to $65.00 in a research report on Monday, February 12th. Royal Bank of Canada raised their target price on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, UBS Group lowered their price objective on shares of Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva Company Profile

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.