Corteva (NYSE:CTVA) Updates FY 2024 Earnings Guidance

Corteva (NYSE:CTVA) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.500-2.600 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CTVA shares. Barclays upped their price objective on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday. Citigroup assumed coverage on Corteva in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. JPMorgan Chase & Co. dropped their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $70.00 target price (up from $69.00) on shares of Corteva in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.47.

Corteva Stock Down 0.5 %

Corteva stock traded down $0.31 during mid-day trading on Friday, hitting $58.33. The company’s stock had a trading volume of 4,673,783 shares, compared to its average volume of 2,825,427. The company 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 has a 52-week low of $43.22 and a 52-week high of $63.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The firm’s 50 day moving average is $58.19 and its 200 day moving average is $55.59.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. Corteva’s payout ratio is 68.69%.

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.