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Corteva, Inc. (CTVA) Gains As Market Dips: What You Should Know
Corteva, Inc. (CTVA - Free Report) closed at $58.10 in the latest trading session, marking a +0.69% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 3.64%.
Prior to today's trading, shares of the agriculture had lost 7.1% over the past month. This has lagged the Consumer Staples sector's gain of 0.77% and the S&P 500's gain of 0.07% 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 $0.92, down 5.15% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 a result, we can interpret positive estimate revisions as a good sign for 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.
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).
Valuation is also important, so investors should note that Corteva, Inc. has a Forward P/E ratio of 19.98 right now. This valuation marks a premium compared to its industry's average Forward P/E of 17.82.
Also, we should mention that CTVA has a PEG ratio of 1.39. 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. CTVA's industry had an average PEG ratio of 1.39 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 211, which puts it in the bottom 17% 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.