Corteva (NYSE:CTVA) Updates FY24 Earnings Guidance

Corteva (NYSE:CTVA) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.50-2.60 for the period, compared to the consensus estimate of $2.67. The company issued revenue guidance of $17.0-17.2 billion, compared to the consensus revenue estimate of $17.21 billion. Corteva also updated its FY 2024 guidance to 2.500-2.600 EPS.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CTVA. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Oppenheimer restated an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Corteva in a research report on Friday. UBS Group raised their price target on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $67.00 in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. decreased their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $63.47.

Corteva Trading Down 0.5 %

Shares of NYSE CTVA traded down $0.31 during midday trading on Friday, reaching $58.33. The company had a trading volume of 4,673,783 shares, compared to its average volume of 2,825,427. The firm’s fifty day moving average price is $58.19 and its 200-day moving average price is $55.59. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. Corteva has a one year low of $43.22 and a one year high of $63.75. The stock has a market cap of $40.38 billion, a PE ratio of 58.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.77.

Corteva Dividend Announcement

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