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Corteva, Inc. (CTVA) Gains As Market Dips: What You Should Know
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In the latest trading session, Corteva, Inc. (CTVA - Free Report) closed at $61.80, marking a +0.29% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.67%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.22%.
Heading into today, shares of the agriculture had gained 0.36% over the past month, outpacing the Consumer Staples sector's loss of 3.31% and the S&P 500's loss of 3.76% in that time.
Wall Street will be looking for positivity from Corteva, Inc. as it approaches its next earnings report date. This is expected to be November 3, 2022. In that report, analysts expect Corteva, Inc. to post earnings of -$0.23 per share. This would mark a year-over-year decline of 64.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.58 billion, up 8.98% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for Corteva, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.38% lower. Corteva, Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Corteva, Inc. is currently trading at a Forward P/E ratio of 23.87. This represents a discount compared to its industry's average Forward P/E of 31.28.
We can also see that CTVA currently has a PEG ratio of 1.51. 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. The Agriculture - Operations was holding an average PEG ratio of 4.68 at yesterday's closing price.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Corteva, Inc. (CTVA) Gains As Market Dips: What You Should Know
In the latest trading session, Corteva, Inc. (CTVA - Free Report) closed at $61.80, marking a +0.29% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.67%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.22%.
Heading into today, shares of the agriculture had gained 0.36% over the past month, outpacing the Consumer Staples sector's loss of 3.31% and the S&P 500's loss of 3.76% in that time.
Wall Street will be looking for positivity from Corteva, Inc. as it approaches its next earnings report date. This is expected to be November 3, 2022. In that report, analysts expect Corteva, Inc. to post earnings of -$0.23 per share. This would mark a year-over-year decline of 64.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.58 billion, up 8.98% from the year-ago period.
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.
It is also important to note the recent changes to analyst estimates for Corteva, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.38% lower. Corteva, Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Corteva, Inc. is currently trading at a Forward P/E ratio of 23.87. This represents a discount compared to its industry's average Forward P/E of 31.28.
We can also see that CTVA currently has a PEG ratio of 1.51. 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. The Agriculture - Operations was holding an average PEG ratio of 4.68 at yesterday's closing price.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.