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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 $52.24, moving +0.46% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.84%. Elsewhere, the Dow lost 0.69%, while the tech-heavy Nasdaq lost 0.07%.
Heading into today, shares of the agriculture had lost 2.29% over the past month, lagging the Consumer Staples sector's gain of 3.72% and the S&P 500's gain of 2.02% in that time.
Investors will be hoping for strength from Corteva, Inc. as it approaches its next earnings release, which is expected to be August 4, 2022. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
Any recent changes to analyst estimates for Corteva, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.49% higher. Corteva, Inc. is currently a Zacks Rank #2 (Buy).
In terms of valuation, Corteva, Inc. is currently trading at a Forward P/E ratio of 20.41. This represents a no noticeable deviation compared to its industry's average Forward P/E of 20.41.
Also, we should mention that CTVA has a PEG ratio of 1.48. 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 industry currently had an average PEG ratio of 2.2 as of yesterday's close.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% 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 $52.24, moving +0.46% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.84%. Elsewhere, the Dow lost 0.69%, while the tech-heavy Nasdaq lost 0.07%.
Heading into today, shares of the agriculture had lost 2.29% over the past month, lagging the Consumer Staples sector's gain of 3.72% and the S&P 500's gain of 2.02% in that time.
Investors will be hoping for strength from Corteva, Inc. as it approaches its next earnings release, which is expected to be August 4, 2022. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
Any recent changes to analyst estimates for Corteva, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.49% higher. Corteva, Inc. is currently a Zacks Rank #2 (Buy).
In terms of valuation, Corteva, Inc. is currently trading at a Forward P/E ratio of 20.41. This represents a no noticeable deviation compared to its industry's average Forward P/E of 20.41.
Also, we should mention that CTVA has a PEG ratio of 1.48. 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 industry currently had an average PEG ratio of 2.2 as of yesterday's close.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% 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.