Corteva, Inc. (NYSE:CTVA – Get Rating) – Research analysts at KeyCorp decreased their Q2 2022 earnings per share estimates for Corteva in a note issued to investors on Thursday, May 5th. KeyCorp analyst A. Yefremov now expects that the company will earn $1.43 per share for the quarter, down from their previous estimate of $1.55. KeyCorp has a “Overweight” rating and a $63.00 price objective on the stock. KeyCorp also issued estimates for Corteva’s Q4 2022 earnings at $0.26 EPS, FY2022 earnings at $2.58 EPS and FY2023 earnings at $3.07 EPS.
Corteva (NYSE:CTVA – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.15. Corteva had a return on equity of 6.70% and a net margin of 10.72%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter in the previous year, the business earned $0.79 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis.
Shares of NYSE:CTVA opened at $55.74 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.08 and a current ratio of 1.64. Corteva has a 1 year low of $40.60 and a 1 year high of $62.04. The stock has a market capitalization of $40.51 billion, a P/E ratio of 23.72, a PEG ratio of 1.71 and a beta of 0.65. The stock has a 50-day simple moving average of $56.97 and a 200-day simple moving average of $50.84.
A number of institutional investors and hedge funds have recently modified their holdings of CTVA. Sierra Capital LLC grew its stake in shares of Corteva by 402.9% in the fourth quarter. Sierra Capital LLC now owns 523 shares of the company’s stock worth $25,000 after purchasing an additional 419 shares in the last quarter. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Corteva in the fourth quarter worth $25,000. Elmwood Wealth Management Inc. bought a new position in shares of Corteva in the fourth quarter worth $26,000. Carl Stuart Investment Advisor Inc. bought a new position in shares of Corteva in the first quarter worth $28,000. Finally, CKW Financial Group grew its stake in shares of Corteva by 1,083.7% in the first quarter. CKW Financial Group now owns 509 shares of the company’s stock worth $30,000 after purchasing an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.
In related news, insider Brian Titus sold 23,500 shares of the company’s stock in a transaction on Friday, February 11th. The stock was sold at an average price of $51.53, for a total transaction of $1,210,955.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Klaus A. Engel sold 3,000 shares of the company’s stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $52.76, for a total value of $158,280.00. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Friday, May 13th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, May 12th. Corteva’s dividend payout ratio is currently 23.83%.
Corteva Company Profile (Get Rating)
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.
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