Corteva (NYSE:CTVA) Announces Earnings Results

Corteva (NYSE:CTVA) posted its quarterly earnings results 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 Price Performance

Corteva stock traded down $2.08 during midday trading on Wednesday, reaching $63.62. The company had a trading volume of 8,909,398 shares, compared to its average volume of 3,400,137. The firm’s fifty day simple moving average is $60.20 and its 200-day simple moving average is $58.07. Corteva has a 12-month low of $50.01 and a 12-month high of $66.24. The company has a market capitalization of $43.72 billion, a P/E ratio of 64.26, a P/E/G 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.07%. Corteva’s dividend payout ratio (DPR) is 68.69%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CTVA shares. KeyCorp cut their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Barclays upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Bank of America raised their target price on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $67.06.

Corteva declared that its board has authorized a stock repurchase program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.