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Corteva, Inc. (CTVA) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Corteva, Inc. (CTVA - Free Report) closed at $52.04, marking a -0.12% move from the previous day. This move lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.1%.
Heading into today, shares of the agriculture had lost 16.48% over the past month, lagging the Consumer Staples sector's loss of 1.45% and the S&P 500's loss of 6.59% in that time.
Wall Street will be looking for positivity from Corteva, Inc. as it approaches its next earnings report date. This is expected to be August 4, 2022. On that day, Corteva, Inc. is projected to report earnings of $1.46 per share, which would represent year-over-year growth of 4.29%. Our most recent consensus estimate is calling for quarterly revenue of $6.16 billion, up 9.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.55 per share and revenue of $17.05 billion. These totals would mark changes of +18.6% and +8.91%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Corteva, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.49% higher within the past month. Corteva, Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Corteva, Inc. is holding a Forward P/E ratio of 20.45. For comparison, its industry has an average Forward P/E of 20.45, which means Corteva, Inc. is trading at a no noticeable deviation to the group.
Investors should also note that CTVA has a PEG ratio of 1.49 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CTVA's industry had an average PEG ratio of 2.21 as of yesterday's close.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CTVA in the coming trading sessions, be sure to utilize Zacks.com.
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Corteva, Inc. (CTVA) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Corteva, Inc. (CTVA - Free Report) closed at $52.04, marking a -0.12% move from the previous day. This move lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.1%.
Heading into today, shares of the agriculture had lost 16.48% over the past month, lagging the Consumer Staples sector's loss of 1.45% and the S&P 500's loss of 6.59% in that time.
Wall Street will be looking for positivity from Corteva, Inc. as it approaches its next earnings report date. This is expected to be August 4, 2022. On that day, Corteva, Inc. is projected to report earnings of $1.46 per share, which would represent year-over-year growth of 4.29%. Our most recent consensus estimate is calling for quarterly revenue of $6.16 billion, up 9.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.55 per share and revenue of $17.05 billion. These totals would mark changes of +18.6% and +8.91%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Corteva, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.49% higher within the past month. Corteva, Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Corteva, Inc. is holding a Forward P/E ratio of 20.45. For comparison, its industry has an average Forward P/E of 20.45, which means Corteva, Inc. is trading at a no noticeable deviation to the group.
Investors should also note that CTVA has a PEG ratio of 1.49 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CTVA's industry had an average PEG ratio of 2.21 as of yesterday's close.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CTVA in the coming trading sessions, be sure to utilize Zacks.com.