Analysts Set Expectations for Corteva, Inc.’s Q3 2024 Earnings (NYSE:CTVA)

Corteva, Inc. (NYSE:CTVA) – Stock analysts at KeyCorp issued their Q3 2024 earnings estimates for Corteva in a research note issued on Sunday, October 6th. KeyCorp analyst A. Yefremov expects that the company will post earnings per share of ($0.40) for the quarter. KeyCorp currently has a “Overweight” rating and a $62.00 target price on the stock. The consensus estimate for Corteva’s current full-year earnings is $2.69 per share. KeyCorp also issued estimates for Corteva’s Q4 2024 earnings at $0.28 EPS, FY2024 earnings at $2.61 EPS, Q3 2025 earnings at ($0.28) EPS, Q4 2025 earnings at $0.39 EPS and FY2025 earnings at $3.14 EPS.

CTVA has been the subject of several other research reports. Wells Fargo & Company reduced their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Argus cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Mizuho dropped their price target on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.94.

Corteva Price Performance

Shares of CTVA opened at $56.50 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The firm has a market capitalization of $39.38 billion, a PE ratio of 71.52, a P/E/G ratio of 1.68 and a beta of 0.77. The stock has a 50 day simple moving average of $55.45 and a 200 day simple moving average of $55.02. Corteva has a 52-week low of $43.22 and a 52-week high of $59.08.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 earnings per share.

Hedge Funds Weigh In On Corteva

Hedge funds and other institutional investors have recently bought and sold shares of the business. Redmont Wealth Advisors LLC bought a new position in shares of Corteva during the 1st quarter worth approximately $25,000. Acadian Asset Management LLC bought a new position in Corteva during the first quarter worth $25,000. Rise Advisors LLC increased its holdings in shares of Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares during the last quarter. Albion Financial Group UT raised its position in shares of Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the period. Finally, Ironwood Wealth Management Inc. lifted its stake in shares of Corteva by 106.1% during the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after buying an additional 280 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.17 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is 86.08%.

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.