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Corteva, Inc. (CTVA) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Corteva, Inc. (CTVA - Free Report) closed at $61.52, marking a -0.39% move from the previous day. This change lagged the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Heading into today, shares of the agriculture had gained 2.39% over the past month, outpacing the Consumer Staples sector's loss of 4.15% and the S&P 500's loss of 3.29% in that time.
Corteva, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of -$0.23, down 64.29% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.58 billion, up 8.98% from the prior-year quarter.
CTVA's full-year Zacks Consensus Estimates are calling for earnings of $2.58 per share and revenue of $17.32 billion. These results would represent year-over-year changes of +20% and +10.66%, respectively.
Any recent changes to analyst estimates for Corteva, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.83% higher. Corteva, Inc. is currently a Zacks Rank #2 (Buy).
Digging into valuation, Corteva, Inc. currently has a Forward P/E ratio of 23.93. This valuation marks a discount compared to its industry's average Forward P/E of 27.78.
We can also see that CTVA currently has a PEG ratio of 1.52. 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 3.25 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 204, which puts it in the bottom 20% 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.
To follow CTVA in the coming trading sessions, be sure to utilize Zacks.com.
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Corteva, Inc. (CTVA) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Corteva, Inc. (CTVA - Free Report) closed at $61.52, marking a -0.39% move from the previous day. This change lagged the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Heading into today, shares of the agriculture had gained 2.39% over the past month, outpacing the Consumer Staples sector's loss of 4.15% and the S&P 500's loss of 3.29% in that time.
Corteva, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of -$0.23, down 64.29% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.58 billion, up 8.98% from the prior-year quarter.
CTVA's full-year Zacks Consensus Estimates are calling for earnings of $2.58 per share and revenue of $17.32 billion. These results would represent year-over-year changes of +20% and +10.66%, respectively.
Any recent changes to analyst estimates for Corteva, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.83% higher. Corteva, Inc. is currently a Zacks Rank #2 (Buy).
Digging into valuation, Corteva, Inc. currently has a Forward P/E ratio of 23.93. This valuation marks a discount compared to its industry's average Forward P/E of 27.78.
We can also see that CTVA currently has a PEG ratio of 1.52. 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 3.25 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 204, which puts it in the bottom 20% 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.
To follow CTVA in the coming trading sessions, be sure to utilize Zacks.com.