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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 $58.89, moving -1.72% from the previous trading session. This change lagged the S&P 500's 1.45% loss on the day. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 3.06%.
Prior to today's trading, shares of the agriculture had lost 4.28% over the past month. This has lagged the Consumer Staples sector's loss of 0.57% and the S&P 500's loss of 3.83% in that time.
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 $0.92 per share. This would mark a year-over-year decline of 5.15%. Meanwhile, our latest consensus estimate is calling for revenue of $4.73 billion, up 2.73% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.89 per share and revenue of $18.39 billion, which would represent changes of +8.24% and +5.38%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Corteva, Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Corteva, Inc. is currently a Zacks Rank #4 (Sell).
Digging into valuation, Corteva, Inc. currently has a Forward P/E ratio of 20.75. This valuation marks a premium compared to its industry's average Forward P/E of 16.66.
Also, we should mention that CTVA has a PEG ratio of 1.45. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Agriculture - Operations stocks are, on average, holding a PEG ratio of 1.63 based on yesterday's closing prices.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.