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Corteva, Inc. (CTVA) Stock Moves -0.1%: What You Should Know
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Corteva, Inc. (CTVA - Free Report) closed at $60.83 in the latest trading session, marking a -0.1% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.8%. Meanwhile, the Dow lost 2.11%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the agriculture had lost 1.85% over the past month. This has was narrower than the Consumer Staples sector's loss of 5.75% and the S&P 500's loss of 4.08% 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.58 per share and revenue of $17.32 billion, which would represent changes of +20% and +10.66%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Corteva, Inc.Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.55% higher. Corteva, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Corteva, Inc. currently has a Forward P/E ratio of 23.59. Its industry sports an average Forward P/E of 27.14, so we one might conclude that Corteva, Inc. is trading at a discount comparatively.
Meanwhile, CTVA's PEG ratio is currently 1.49. 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 3.18 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 215, which puts it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Corteva, Inc. (CTVA) Stock Moves -0.1%: What You Should Know
Corteva, Inc. (CTVA - Free Report) closed at $60.83 in the latest trading session, marking a -0.1% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.8%. Meanwhile, the Dow lost 2.11%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the agriculture had lost 1.85% over the past month. This has was narrower than the Consumer Staples sector's loss of 5.75% and the S&P 500's loss of 4.08% 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.58 per share and revenue of $17.32 billion, which would represent changes of +20% and +10.66%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Corteva, Inc.Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.55% higher. Corteva, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Corteva, Inc. currently has a Forward P/E ratio of 23.59. Its industry sports an average Forward P/E of 27.14, so we one might conclude that Corteva, Inc. is trading at a discount comparatively.
Meanwhile, CTVA's PEG ratio is currently 1.49. 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 3.18 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 215, which puts it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.