Corteva (NYSE:CTVA) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Corteva (NYSE:CTVA) released its quarterly earnings data on Thursday. The company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.06, Zacks reports. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.60 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 EPS. Corteva updated its FY 2026 guidance to 3.600-3.800 EPS.

Corteva Stock Down 1.2%

Shares of NYSE CTVA traded down $1.12 during trading on Thursday, hitting $89.39. The stock had a trading volume of 5,561,841 shares, compared to its average volume of 3,968,582. The firm has a fifty day moving average of $81.95 and a two-hundred day moving average of $79.41. The company has a market capitalization of $59.79 billion, a PE ratio of 52.58, a PEG ratio of 2.69 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03. Corteva has a 12 month low of $60.53 and a 12 month high of $90.97.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Corteva’s payout ratio is currently 42.35%.

Institutional Investors Weigh In On Corteva

A number of institutional investors have recently added to or reduced their stakes in the company. Harris Associates L P lifted its position in shares of Corteva by 168.1% during the 4th quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock worth $1,141,268,000 after buying an additional 10,675,052 shares in the last quarter. Amundi grew its holdings in shares of Corteva by 125.3% in the third quarter. Amundi now owns 3,415,554 shares of the company’s stock valued at $219,620,000 after acquiring an additional 1,899,248 shares in the last quarter. Invesco Ltd. increased its position in shares of Corteva by 16.7% during the fourth quarter. Invesco Ltd. now owns 11,404,960 shares of the company’s stock valued at $764,474,000 after acquiring an additional 1,630,712 shares during the last quarter. State Street Corp lifted its holdings in Corteva by 3.7% during the fourth quarter. State Street Corp now owns 36,570,876 shares of the company’s stock worth $2,451,346,000 after acquiring an additional 1,290,071 shares during the period. Finally, Man Group plc boosted its position in Corteva by 16,474.3% in the third quarter. Man Group plc now owns 1,294,125 shares of the company’s stock worth $87,522,000 after purchasing an additional 1,286,317 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Corteva from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Barclays upped their target price on Corteva from $84.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Morgan Stanley lifted their price target on shares of Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. The Goldman Sachs Group boosted their price target on shares of Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Finally, Citigroup upped their price objective on shares of Corteva from $83.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.19.

Corteva Company Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid?2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.