Corteva (CTVA) Set to Announce Quarterly Earnings on Wednesday

Corteva (NYSE:CTVA – Get Rating) will be announcing 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.Investors interested in listening to the company’s conference call can do so using this link.

Corteva (NYSE:CTVA – Get Rating) last announced 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. The company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Corteva had a return on equity of 7.31% and a net margin of 7.95%. Corteva’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) EPS. On average, analysts expect Corteva to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Corteva Stock Performance

Shares of CTVA stock opened at $62.51 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.69 and a quick ratio of 1.08. The stock has a market cap of $44.66 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. The stock has a 50-day moving average of $62.31 and a 200-day moving average of $61.15. Corteva has a one year low of $44.22 and a one year high of $68.43.

Corteva Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Carolinas Wealth Consulting LLC lifted its position in shares of Corteva by 454.5% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 610 shares of the company’s stock valued at $35,000 after buying an additional 500 shares during the last quarter. Fairfield Bush & CO. bought a new stake in shares of Corteva during the 1st quarter valued at $45,000. Parkside Financial Bank & Trust raised its stake in shares of Corteva by 45.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 2,019 shares of the company’s stock valued at $116,000 after purchasing an additional 629 shares during the period. Covestor Ltd raised its stake in shares of Corteva by 26.6% during the 1st quarter. Covestor Ltd now owns 2,097 shares of the company’s stock valued at $121,000 after purchasing an additional 440 shares during the period. Finally, qPULA Trading Management LP bought a new stake in shares of Corteva during the 1st quarter valued at $201,000. Hedge funds and other institutional investors own 79.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CTVA. BMO Capital Markets boosted their price objective on Corteva from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Monday, November 7th. Wells Fargo & Company initiated coverage on Corteva in a research report on Wednesday, January 18th. They issued an “overweight” rating and a $78.00 price objective for the company. Royal Bank of Canada upped their price target on Corteva from $72.00 to $78.00 and gave the stock an “outperform” rating in a research report on Monday, November 7th. Citigroup decreased their price target on Corteva from $75.00 to $72.00 and set a “buy” rating on the stock in a research report on Friday, January 20th. Finally, Morgan Stanley raised their price objective on Corteva from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, January 11th. Four analysts have rated the stock with a hold rating and fourteen 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 a consensus target price of $72.59.

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.