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Corteva, Inc. (CTVA) Dips More Than Broader Markets: What You Should Know
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Corteva, Inc. (CTVA - Free Report) closed the most recent trading day at $61.35, moving -1.24% from the previous trading session. This move lagged the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.27%.
Coming into today, shares of the agriculture had lost 0.4% in the past month. In that same time, the Consumer Staples sector lost 6.82%, while the S&P 500 lost 9.06%.
Corteva, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Corteva, Inc. to post earnings of -$0.21 per share. This would mark a year-over-year decline of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.58 billion, up 8.81% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.59 per share and revenue of $17.3 billion. These totals would mark changes of +20.47% and +10.51%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.22% higher within the past month. Corteva, Inc. is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Corteva, Inc. is currently trading at a Forward P/E ratio of 24.02. Its industry sports an average Forward P/E of 24.02, so we one might conclude that Corteva, Inc. is trading at a no noticeable deviation comparatively.
Meanwhile, CTVA's PEG ratio is currently 1.57. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Agriculture - Operations industry currently had an average PEG ratio of 3.27 as of yesterday's close.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Corteva, Inc. (CTVA) Dips More Than Broader Markets: What You Should Know
Corteva, Inc. (CTVA - Free Report) closed the most recent trading day at $61.35, moving -1.24% from the previous trading session. This move lagged the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.27%.
Coming into today, shares of the agriculture had lost 0.4% in the past month. In that same time, the Consumer Staples sector lost 6.82%, while the S&P 500 lost 9.06%.
Corteva, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Corteva, Inc. to post earnings of -$0.21 per share. This would mark a year-over-year decline of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.58 billion, up 8.81% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.59 per share and revenue of $17.3 billion. These totals would mark changes of +20.47% and +10.51%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.22% higher within the past month. Corteva, Inc. is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Corteva, Inc. is currently trading at a Forward P/E ratio of 24.02. Its industry sports an average Forward P/E of 24.02, so we one might conclude that Corteva, Inc. is trading at a no noticeable deviation comparatively.
Meanwhile, CTVA's PEG ratio is currently 1.57. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Agriculture - Operations industry currently had an average PEG ratio of 3.27 as of yesterday's close.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.