Corteva (NYSE:CTVA – Get Free Report) released its quarterly earnings data on Wednesday. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10, Briefing.com reports. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. Corteva’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Corteva updated its FY 2024 guidance to 2.700-2.900 EPS and its FY24 guidance to $2.70-$2.90 EPS.
Corteva Trading Up 5.7 %
Shares of NYSE:CTVA traded up $3.07 during midday trading on Thursday, reaching $56.98. The company’s stock had a trading volume of 5,797,453 shares, compared to its average volume of 3,524,165. The business has a 50 day moving average price of $55.28 and a 200 day moving average price of $50.56. Corteva has a 1 year low of $43.22 and a 1 year high of $61.07. The firm has a market cap of $39.82 billion, a price-to-earnings ratio of 55.92, a price-to-earnings-growth ratio of 1.42 and a beta of 0.78. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09.
Corteva Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio is presently 62.75%.
Analyst Ratings Changes
Check Out Our Latest Stock Report on CTVA
Corteva Company Profile
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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