Corteva (CTVA) Set to Announce Quarterly Earnings on Wednesday

Corteva (NYSE:CTVAGet Rating) is set to announce its earnings results after the market closes on Wednesday, February 1st. Analysts expect the company to announce earnings of $0.06 per share for the quarter. Corteva has set its FY 2022 guidance at $2.45-$2.60 EPS and its FY22 guidance at $2.45-2.60 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Corteva (NYSE:CTVAGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. Corteva had a net margin of 7.95% and a return on equity of 7.31%. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm posted ($0.14) earnings per share. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, analysts expect Corteva to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Corteva Trading Up 1.0 %

NYSE:CTVA opened at $62.51 on Wednesday. Corteva has a 12 month low of $44.22 and a 12 month high of $68.43. The firm has a market cap of $44.66 billion, a price-to-earnings ratio of 33.43, a P/E/G ratio of 1.18 and a beta of 0.78. The company has a quick ratio of 1.08, a current ratio of 1.69 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $62.31 and its 200-day moving average is $61.15.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Monday, November 14th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, November 10th. Corteva’s dividend payout ratio is 32.09%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group lowered shares of Corteva from a “buy” rating to a “neutral” rating and lifted their price target for the company from $70.00 to $73.00 in a research report on Tuesday, November 15th. Royal Bank of Canada boosted their target price on shares of Corteva from $72.00 to $78.00 and gave the stock an “outperform” rating in a research report on Monday, November 7th. Loop Capital lowered shares of Corteva from a “buy” rating to a “hold” rating and boosted their target price for the stock from $70.00 to $71.00 in a research report on Tuesday, November 15th. Citigroup dropped their target price on shares of Corteva from $75.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday, January 20th. Finally, Credit Suisse Group boosted their target price on shares of Corteva from $72.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, November 4th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.59.

Institutional Investors Weigh In On Corteva

Several institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Corteva by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,580,065 shares of the company’s stock valued at $205,782,000 after purchasing an additional 110,200 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Corteva by 11.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,614,688 shares of the company’s stock valued at $141,559,000 after purchasing an additional 258,524 shares in the last quarter. Royal Bank of Canada lifted its position in Corteva by 3.5% during the 1st quarter. Royal Bank of Canada now owns 2,457,964 shares of the company’s stock worth $141,284,000 after buying an additional 83,284 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Corteva by 244.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,133,182 shares of the company’s stock worth $122,615,000 after buying an additional 1,513,063 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in Corteva by 11.1% during the 1st quarter. Clearbridge Investments LLC now owns 999,254 shares of the company’s stock worth $57,437,000 after buying an additional 99,742 shares in the last quarter. Institutional investors and hedge funds own 79.45% of the company’s stock.

Corteva Company Profile

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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.

See Also

Earnings History for Corteva (NYSE:CTVA)

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