Corteva, Inc. (NYSE:CTVA) Announces Quarterly Dividend of $0.17

Corteva, Inc. (NYSE:CTVA) declared a quarterly dividend on Monday, July 29th, RTT News reports. Stockholders of record on Tuesday, September 3rd will be given a dividend of 0.17 per share on Tuesday, September 17th. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16.

Corteva has raised its dividend payment by an average of 6.0% annually over the last three years. Corteva has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Corteva to earn $3.39 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 20.1%.

Corteva Stock Up 0.5 %

NYSE CTVA opened at $57.30 on Monday. Corteva has a twelve month low of $43.22 and a twelve month high of $58.76. 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 stock has a market cap of $39.67 billion, a PE ratio of 72.53, a PEG ratio of 1.65 and a beta of 0.77. The firm has a 50-day simple moving average of $53.58 and a 200 day simple moving average of $54.57.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. On average, research analysts forecast that Corteva will post 2.72 EPS for the current year.

Analyst Ratings Changes

CTVA has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. OTR Global reissued a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Wells Fargo & Company cut their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada increased their target price on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Finally, Argus lowered Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.67.

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.