Corteva (NYSE:CTVA) Issues Earnings Results, Misses Estimates By $0.02 EPS

Corteva (NYSE:CTVA) released its earnings results on Wednesday. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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

NYSE CTVA traded down $1.14 on Thursday, reaching $62.69. 2,366,024 shares of the company’s stock traded hands, compared to its average volume of 3,326,616. The stock has a market cap of $43.08 billion, a PE ratio of 63.31, a P/E/G ratio of 1.71 and a beta of 0.78. Corteva has a 12 month low of $50.01 and a 12 month high of $66.24. The stock has a 50-day simple moving average of $60.22 and a 200 day simple moving average of $58.11. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Analysts Set New Price Targets

A number of analysts have commented on CTVA shares. Citigroup increased their price target on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Bank of America lifted 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. UBS Group lowered their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Barclays boosted their price objective on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, KeyCorp dropped their price target on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.06.

Corteva announced that its Board of Directors has initiated a stock buyback program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors 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.