Corteva (NYSE:CTVA) Releases FY 2024 Earnings Guidance

Corteva (NYSE:CTVA) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.500-2.600 for the period, compared to the consensus 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 brokerages recently issued reports on CTVA. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. JPMorgan Chase & Co. reduced their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company decreased their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Citigroup began coverage on shares of Corteva in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target on the stock. Finally, Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One equities 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.84.

Corteva Price Performance

Shares of CTVA traded down $0.01 during mid-day trading on Wednesday, reaching $61.74. 4,734,061 shares of the stock traded hands, compared to its average volume of 3,244,703. The firm has a fifty day moving average price of $58.14 and a 200 day moving average price of $55.55. The company has a market cap of $42.74 billion, a price-to-earnings ratio of 47.49, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva has a 1 year low of $43.22 and a 1 year 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 given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.10%. Corteva’s dividend payout ratio (DPR) is currently 52.31%.

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.