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Corteva, Inc. (CTVA) Gains But Lags Market: What You Should Know
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Corteva, Inc. (CTVA - Free Report) closed at $56.96 in the latest trading session, marking a +0.19% move from the prior day. This move lagged the S&P 500's daily gain of 1.76%. Elsewhere, the Dow gained 1.17%, while the tech-heavy Nasdaq added 3.03%.
Prior to today's trading, shares of the agriculture had lost 8.47% over the past month. This has lagged the Consumer Staples sector's loss of 1.63% and the S&P 500's loss of 5.94% in that time.
Investors will be hoping for strength from Corteva, Inc. as it approaches its next earnings release. On that day, Corteva, Inc. is projected to report earnings of $0.92 per share, which would represent a year-over-year decline of 5.15%. Our most recent consensus estimate is calling for quarterly revenue of $4.73 billion, up 2.73% from the year-ago period.
CTVA's full-year Zacks Consensus Estimates are calling for earnings of $2.89 per share and revenue of $18.39 billion. These results would represent year-over-year changes of +8.24% and +5.38%, respectively.
It is also important to note the recent changes to analyst estimates for Corteva, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained stagnant within the past month. Corteva, Inc. is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Corteva, Inc. has a Forward P/E ratio of 19.69 right now. Its industry sports an average Forward P/E of 17.49, so we one might conclude that Corteva, Inc. is trading at a premium comparatively.
Investors should also note that CTVA has a PEG ratio of 1.37 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. The Agriculture - Operations industry currently had an average PEG ratio of 1.37 as of yesterday's close.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 199, putting it in the bottom 22% 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.
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
Corteva, Inc. (CTVA - Free Report) closed at $56.96 in the latest trading session, marking a +0.19% move from the prior day. This move lagged the S&P 500's daily gain of 1.76%. Elsewhere, the Dow gained 1.17%, while the tech-heavy Nasdaq added 3.03%.
Prior to today's trading, shares of the agriculture had lost 8.47% over the past month. This has lagged the Consumer Staples sector's loss of 1.63% and the S&P 500's loss of 5.94% in that time.
Investors will be hoping for strength from Corteva, Inc. as it approaches its next earnings release. On that day, Corteva, Inc. is projected to report earnings of $0.92 per share, which would represent a year-over-year decline of 5.15%. Our most recent consensus estimate is calling for quarterly revenue of $4.73 billion, up 2.73% from the year-ago period.
CTVA's full-year Zacks Consensus Estimates are calling for earnings of $2.89 per share and revenue of $18.39 billion. These results would represent year-over-year changes of +8.24% and +5.38%, respectively.
It is also important to note the recent changes to analyst estimates for Corteva, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained stagnant within the past month. Corteva, Inc. is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Corteva, Inc. has a Forward P/E ratio of 19.69 right now. Its industry sports an average Forward P/E of 17.49, so we one might conclude that Corteva, Inc. is trading at a premium comparatively.
Investors should also note that CTVA has a PEG ratio of 1.37 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. The Agriculture - Operations industry currently had an average PEG ratio of 1.37 as of yesterday's close.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 199, putting it in the bottom 22% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.