Q1 2024 Earnings Estimate for Corteva, Inc. Issued By KeyCorp (NYSE:CTVA)

Posted by on Oct 5th, 2023

Corteva, Inc. (NYSE:CTVA – Free Report) – KeyCorp issued their Q1 2024 earnings per share (EPS) estimates for shares of Corteva in a research note issued to investors on Monday, October 2nd. KeyCorp analyst A. Yefremov forecasts that the company will post earnings per share of $1.20 for the quarter. KeyCorp currently has a “Overweight” rating and a $66.00 target price on the stock. The consensus estimate for Corteva’s current full-year earnings is $2.83 per share. KeyCorp also issued estimates for Corteva’s Q2 2024 earnings at $1.80 EPS and Q4 2024 earnings at $0.36 EPS.

Corteva (NYSE:CTVA – Get Free Report) last issued its quarterly earnings data on Friday, August 4th. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The firm had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.44 billion. Corteva had a net margin of 5.26% and a return on equity of 7.78%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS.

Several other equities research analysts have also recently issued reports on CTVA. Royal Bank of Canada reduced their price target on Corteva from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, July 13th. Credit Suisse Group restated an “outperform” rating and issued a $74.00 price target on shares of Corteva in a research report on Friday, August 4th. Redburn Partners cut shares of Corteva from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 25th. Wells Fargo & Company lowered their price objective on Corteva from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday, August 7th. Finally, Canaccord Genuity Group assumed coverage on shares of Corteva in a research note on Wednesday, June 28th. They set a “buy” rating and a $75.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.41.

Read Our Latest Report on Corteva

Corteva Price Performance

NYSE CTVA opened at $50.45 on Wednesday. The stock has a market cap of $35.81 billion, a price-to-earnings ratio of 39.11, a PEG ratio of 1.34 and a beta of 0.79. Corteva has a 52-week low of $48.68 and a 52-week high of $68.43. The business has a 50 day simple moving average of $51.82 and a 200 day simple moving average of $55.74. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.12 and a current ratio of 1.66.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.16 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.27%. Corteva’s dividend payout ratio (DPR) is presently 49.61%.

Insider Transactions at Corteva

In related news, CFO David J. Anderson acquired 2,000 shares of the stock in a transaction on Friday, September 15th. The stock was bought at an average cost of $52.97 per share, with a total value of $105,940.00. Following the transaction, the chief financial officer now directly owns 65,308 shares in the company, valued at $3,459,364.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Corteva

A number of large investors have recently made changes to their positions in the stock. Great Lakes Retirement Inc. boosted its position in shares of Corteva by 8.2% in the 1st quarter. Great Lakes Retirement Inc. now owns 4,466 shares of the company’s stock worth $269,000 after buying an additional 338 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Corteva by 4.2% in the first quarter. Commonwealth Equity Services LLC now owns 166,329 shares of the company’s stock valued at $10,031,000 after purchasing an additional 6,778 shares during the period. Wealthfront Advisers LLC lifted its position in Corteva by 3.4% during the first quarter. Wealthfront Advisers LLC now owns 49,086 shares of the company’s stock worth $2,960,000 after buying an additional 1,601 shares during the period. Natixis boosted its stake in Corteva by 19.5% in the 4th quarter. Natixis now owns 924,496 shares of the company’s stock worth $54,342,000 after buying an additional 151,094 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC increased its position in Corteva by 99.3% during the first quarter. Prime Capital Investment Advisors LLC now owns 12,424 shares of the company’s stock worth $749,000 after purchasing an additional 6,190 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Company Profile

(Get Free Report)

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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Earnings History and Estimates for Corteva (NYSE:CTVA)

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