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Corteva, Inc. (CTVA) Gains But Lags Market: What You Should Know
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Corteva, Inc. (CTVA - Free Report) ended the recent trading session at $54.49, demonstrating a +0.85% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 1.03%. Elsewhere, the Dow saw an upswing of 0.34%, while the tech-heavy Nasdaq appreciated by 1.51%.
Shares of the agriculture witnessed a loss of 0.07% over the previous month, beating the performance of the Consumer Staples sector with its loss of 0.65% and underperforming the S&P 500's gain of 3.21%.
Investors will be eagerly watching for the performance of Corteva, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.95, signifying a 18.1% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.64 billion, showing a 5.09% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.89 per share and a revenue of $17.52 billion, representing changes of +7.43% and +1.71%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Corteva, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Corteva, Inc. presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Corteva, Inc. is presently being traded at a Forward P/E ratio of 18.67. This valuation marks a discount compared to its industry's average Forward P/E of 21.34.
We can also see that CTVA currently has a PEG ratio of 1.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Agriculture - Operations industry had an average PEG ratio of 1.43.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 236, which puts it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Corteva, Inc. (CTVA) Gains But Lags Market: What You Should Know
Corteva, Inc. (CTVA - Free Report) ended the recent trading session at $54.49, demonstrating a +0.85% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 1.03%. Elsewhere, the Dow saw an upswing of 0.34%, while the tech-heavy Nasdaq appreciated by 1.51%.
Shares of the agriculture witnessed a loss of 0.07% over the previous month, beating the performance of the Consumer Staples sector with its loss of 0.65% and underperforming the S&P 500's gain of 3.21%.
Investors will be eagerly watching for the performance of Corteva, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.95, signifying a 18.1% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.64 billion, showing a 5.09% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.89 per share and a revenue of $17.52 billion, representing changes of +7.43% and +1.71%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Corteva, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Corteva, Inc. presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Corteva, Inc. is presently being traded at a Forward P/E ratio of 18.67. This valuation marks a discount compared to its industry's average Forward P/E of 21.34.
We can also see that CTVA currently has a PEG ratio of 1.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Agriculture - Operations industry had an average PEG ratio of 1.43.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 236, which puts it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.