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Corteva, Inc. (CTVA) Dips More Than Broader Markets: What You Should Know
Corteva, Inc. (CTVA - Free Report) closed at $57.44 in the latest trading session, marking a -1.83% move from the prior day. This move lagged the S&P 500's daily loss of 1.65%. At the same time, the Dow lost 1.63%, and the tech-heavy Nasdaq lost 6.65%.
Prior to today's trading, shares of the agriculture had lost 2.58% over the past month. This has lagged the Consumer Staples sector's loss of 0.41% and the S&P 500's gain of 0.3% 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.73 billion, up 2.73% from the year-ago period.
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.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Corteva, Inc. is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Corteva, Inc. is currently trading at a Forward P/E ratio of 20.26. This represents a premium compared to its industry's average Forward P/E of 18.07.
Also, we should mention that CTVA 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 1.41 at yesterday's closing price.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 212, putting it in the bottom 16% 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.
To follow CTVA in the coming trading sessions, be sure to utilize Zacks.com.