Corteva (CTVA) Projected to Post Earnings on Wednesday

Corteva (NYSE:CTVA) is expected to be announcing its earnings results after the market closes on Wednesday, February 5th. Analysts expect the company to announce earnings of $0.34 per share and revenue of $4.04 billion for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Corteva Stock Performance

NYSE:CTVA opened at $64.26 on Wednesday. The stock has a 50-day moving average price of $59.71 and a 200 day moving average price of $57.61. The stock has a market capitalization of $44.16 billion, a P/E ratio of 64.90, a P/E/G ratio of 1.63 and a beta of 0.77. Corteva has a 12-month low of $45.30 and a 12-month high of $64.86. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.06%. Corteva’s payout ratio is 68.69%.

Corteva announced that its Board of Directors has approved a stock repurchase program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CTVA shares. KeyCorp reduced their target price on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Citigroup decreased their price objective on Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Bank of America lifted their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Wells Fargo & Company upped their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, UBS Group dropped their price target on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.94.

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.