Earnings results for Corteva (NYSE:CTVA)
Corteva, Inc. is expected* to report earnings on 05/04/2021 after market close. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 6 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.67. The reported EPS for the same quarter last year was $0.59.
Corteva last issued its earnings results on February 2nd, 2021. The reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $2.95 billion. Its revenue for the quarter was up 7.6% compared to the same quarter last year. Corteva has generated $1.43 earnings per share over the last year and currently has a price-to-earnings ratio of 59.5. Corteva has confirmed that its next quarterly earnings report will be published on Tuesday, May 4th, 2021. Corteva will be holding an earnings conference call on Tuesday, May 4th. Interested parties can register for or listen to the call using this link.
Analyst Opinion on Corteva (NYSE:CTVA)
21 Wall Street analysts have issued ratings and price targets for Corteva in the last 12 months. Their average twelve-month price target is $43.19, predicting that the stock has a possible downside of 11.43%. The high price target for CTVA is $54.00 and the low price target for CTVA is $28.00. There are currently 3 sell ratings, 6 hold ratings and 12 buy ratings for the stock, resulting in a consensus rating of “Hold.”
Corteva has received a consensus rating of Hold. The company’s average rating score is 2.43, and is based on 12 buy ratings, 6 hold ratings, and 3 sell ratings. According to analysts’ consensus price target of $43.19, Corteva has a forecasted downside of 11.4% from its current price of $48.76. Corteva has been the subject of 9 research reports in the past 90 days, demonstrating strong analyst interest in this stock.
Dividend Strength: Corteva (NYSE:CTVA)
Corteva has a dividend yield of 1.07%, which is in the bottom 25% of all stocks that pay dividends. Corteva has only been increasing its dividend for 1 years. The dividend payout ratio of Corteva is 36.36%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Corteva will have a dividend payout ratio of 28.89% next year. This indicates that Corteva will be able to sustain or increase its dividend.
Insiders buying/selling: Corteva (NYSE:CTVA)
In the past three months, Corteva insiders have not sold or bought any company stock. Only 0.22% of the stock of Corteva is held by insiders. 77.15% of the stock of Corteva is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Corteva (NYSE:CTVA
Earnings for Corteva are expected to grow by 28.57% in the coming year, from $1.40 to $1.80 per share. The P/E ratio of Corteva is 59.46, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 24.08. The P/E ratio of Corteva is 59.46, which means that it is trading at a more expensive P/E ratio than the Consumer Staples sector average P/E ratio of about 45.26. Corteva has a PEG Ratio of 1.90. PEG Ratios above 1 indicate that a company could be overvalued. Corteva has a P/B Ratio of 1.49. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.
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