Corteva, Inc. (NYSE:CTVA) Plans Quarterly Dividend of $0.16

Corteva, Inc. (NYSE:CTVA) declared a quarterly dividend on Friday, April 26th, RTT News reports. Stockholders of record on Tuesday, June 4th will be paid a dividend of 0.16 per share on Tuesday, June 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%.

Corteva has increased its dividend by an average of 6.0% per year over the last three years and has increased its dividend every year for the last 3 years. Corteva has a dividend payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Corteva to earn $3.47 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 18.4%.

Corteva Stock Up 0.2 %

Shares of NYSE:CTVA traded up $0.09 during trading on Friday, reaching $54.79. 57,498 shares of the stock were exchanged, compared to its average volume of 3,492,007. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. Corteva has a 1-year low of $43.22 and a 1-year high of $61.87. The stock has a fifty day moving average of $55.28 and a two-hundred day moving average of $50.43. The firm has a market cap of $38.29 billion, a price-to-earnings ratio of 53.63, a price-to-earnings-growth ratio of 1.43 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter in the prior year, the company earned $0.16 EPS. Research analysts anticipate that Corteva will post 2.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of recent analyst reports. Oppenheimer upped their price objective on Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and increased their price target for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. KeyCorp increased their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Finally, UBS Group cut their price target on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.29.

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.