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

Corteva, Inc. (NYSE:CTVA) announced a quarterly dividend on Friday, April 26th, RTT News reports. Investors 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 yield of 1.17%. The ex-dividend date of this dividend is Tuesday, June 4th.

Corteva has raised its dividend by an average of 6.0% annually 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% indicating that its dividend is sufficiently covered by earnings. Equities research 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 0.4 %

NYSE:CTVA opened at $54.92 on Friday. Corteva has a 1-year low of $43.22 and a 1-year high of $61.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The firm has a market capitalization of $38.38 billion, a P/E ratio of 53.84, a PEG ratio of 1.43 and a beta of 0.77. The company’s fifty day moving average price is $55.28 and its 200-day moving average price is $50.46.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. 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 report on Monday, February 12th. Oppenheimer boosted their price objective on Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. Wolfe Research initiated coverage on Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 target price on the stock. Finally, Mizuho dropped their price target on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.29.

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.