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Corteva, Inc. (CTVA) Gains But Lags Market: What You Should Know
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In the latest trading session, Corteva, Inc. (CTVA - Free Report) closed at $58.38, marking a +1.96% move from the previous day. This move lagged the S&P 500's daily gain of 1.97%. Meanwhile, the Dow gained 1.88%, and the Nasdaq, a tech-heavy index, added 0.25%.
Prior to today's trading, shares of the agriculture had lost 7.3% over the past month. This has was narrower than the Consumer Staples sector's loss of 8.57% and the S&P 500's loss of 9.93% in that time.
Wall Street will be looking for positivity from Corteva, Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.23, down 64.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.58 billion, up 8.81% from the year-ago period.
CTVA's full-year Zacks Consensus Estimates are calling for earnings of $2.58 per share and revenue of $17.3 billion. These results would represent year-over-year changes of +20% and +10.51%, respectively.
Investors should also note any recent changes to analyst estimates for Corteva, Inc.These recent revisions tend to reflect the evolving nature of short-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.83% higher. Corteva, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Corteva, Inc. is holding a Forward P/E ratio of 22.18. For comparison, its industry has an average Forward P/E of 22.18, which means Corteva, Inc. is trading at a no noticeable deviation to the group.
We can also see that CTVA currently has a PEG ratio of 1.41. 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 was holding an average PEG ratio of 3.11 at yesterday's closing price.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 9% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Corteva, Inc. (CTVA) Gains But Lags Market: What You Should Know
In the latest trading session, Corteva, Inc. (CTVA - Free Report) closed at $58.38, marking a +1.96% move from the previous day. This move lagged the S&P 500's daily gain of 1.97%. Meanwhile, the Dow gained 1.88%, and the Nasdaq, a tech-heavy index, added 0.25%.
Prior to today's trading, shares of the agriculture had lost 7.3% over the past month. This has was narrower than the Consumer Staples sector's loss of 8.57% and the S&P 500's loss of 9.93% in that time.
Wall Street will be looking for positivity from Corteva, Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.23, down 64.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.58 billion, up 8.81% from the year-ago period.
CTVA's full-year Zacks Consensus Estimates are calling for earnings of $2.58 per share and revenue of $17.3 billion. These results would represent year-over-year changes of +20% and +10.51%, respectively.
Investors should also note any recent changes to analyst estimates for Corteva, Inc.These recent revisions tend to reflect the evolving nature of short-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.83% higher. Corteva, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Corteva, Inc. is holding a Forward P/E ratio of 22.18. For comparison, its industry has an average Forward P/E of 22.18, which means Corteva, Inc. is trading at a no noticeable deviation to the group.
We can also see that CTVA currently has a PEG ratio of 1.41. 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 was holding an average PEG ratio of 3.11 at yesterday's closing price.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 9% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.