Corteva (NYSE:CTVA) posted its quarterly earnings results on Tuesday. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.14, RTT News reports. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $3.86 billion. Corteva had a return on equity of 4.70% and a net margin of 4.42%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. Corteva updated its FY 2021 guidance to 1.850-1.950 EPS and its FY21 guidance to $1.85-1.95 EPS.
Shares of Corteva stock traded up $0.06 during mid-day trading on Tuesday, hitting $49.79. The stock had a trading volume of 3,422,558 shares, compared to its average volume of 3,289,056. The firm has a 50-day moving average of $47.54 and a two-hundred day moving average of $41.89. Corteva has a 12-month low of $22.38 and a 12-month high of $49.98. The company has a quick ratio of 1.26, a current ratio of 1.82 and a debt-to-equity ratio of 0.05. The firm has a market cap of $36.88 billion, a P/E ratio of 60.72, a price-to-earnings-growth ratio of 1.90 and a beta of 0.82.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Friday, May 14th will be paid a $0.13 dividend. The ex-dividend date is Thursday, May 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.04%. Corteva’s dividend payout ratio (DPR) is 36.36%.
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.
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