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Corteva, Inc. (CTVA) Gains As Market Dips: What You Should Know
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Corteva, Inc. (CTVA - Free Report) closed the most recent trading day at $54.24, moving +1.27% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.2%, while the tech-heavy Nasdaq lost 0.11%.
Heading into today, shares of the agriculture had lost 14.86% over the past month, lagging the Consumer Staples sector's loss of 0.06% and the S&P 500's loss of 0.62% 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 $1.46 per share, which would represent year-over-year growth of 4.29%. Our most recent consensus estimate is calling for quarterly revenue of $6.16 billion, up 9.44% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.55 per share and revenue of $17.05 billion, which would represent changes of +18.6% and +8.91%, respectively, from the prior year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.49% higher. Corteva, Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Corteva, Inc. currently has a Forward P/E ratio of 21.02. This represents a no noticeable deviation compared to its industry's average Forward P/E of 21.02.
We can also see that CTVA currently has a PEG ratio of 1.53. 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. Agriculture - Operations stocks are, on average, holding a PEG ratio of 2.13 based on yesterday's closing prices.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
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 As Market Dips: What You Should Know
Corteva, Inc. (CTVA - Free Report) closed the most recent trading day at $54.24, moving +1.27% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.3%. Elsewhere, the Dow lost 0.2%, while the tech-heavy Nasdaq lost 0.11%.
Heading into today, shares of the agriculture had lost 14.86% over the past month, lagging the Consumer Staples sector's loss of 0.06% and the S&P 500's loss of 0.62% 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 $1.46 per share, which would represent year-over-year growth of 4.29%. Our most recent consensus estimate is calling for quarterly revenue of $6.16 billion, up 9.44% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.55 per share and revenue of $17.05 billion, which would represent changes of +18.6% and +8.91%, respectively, from the prior year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.49% higher. Corteva, Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Corteva, Inc. currently has a Forward P/E ratio of 21.02. This represents a no noticeable deviation compared to its industry's average Forward P/E of 21.02.
We can also see that CTVA currently has a PEG ratio of 1.53. 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. Agriculture - Operations stocks are, on average, holding a PEG ratio of 2.13 based on yesterday's closing prices.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.