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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 $61.11, moving +0.16% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Coming into today, shares of the agriculture had lost 3.14% in the past month. In that same time, the Consumer Staples sector lost 2.09%, while the S&P 500 lost 1.03%.
Investors will be hoping for strength from Corteva, Inc. as it approaches its next earnings release, which is expected to be February 1, 2023. On that day, Corteva, Inc. is projected to report earnings of $0.06 per share, which would represent a year-over-year decline of 25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.82 billion, up 9.81% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Corteva, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Corteva, Inc. is currently a Zacks Rank #2 (Buy).
Digging into valuation, Corteva, Inc. currently has a Forward P/E ratio of 19.05. Its industry sports an average Forward P/E of 18.44, so we one might conclude that Corteva, Inc. is trading at a premium comparatively.
Also, we should mention that CTVA has a PEG ratio of 1.19. 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 was holding an average PEG ratio of 3.58 at yesterday's closing price.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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) Gains As Market Dips: What You Should Know
Corteva, Inc. (CTVA - Free Report) closed the most recent trading day at $61.11, moving +0.16% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.34%, and the Nasdaq, a tech-heavy index, added 11.55%.
Coming into today, shares of the agriculture had lost 3.14% in the past month. In that same time, the Consumer Staples sector lost 2.09%, while the S&P 500 lost 1.03%.
Investors will be hoping for strength from Corteva, Inc. as it approaches its next earnings release, which is expected to be February 1, 2023. On that day, Corteva, Inc. is projected to report earnings of $0.06 per share, which would represent a year-over-year decline of 25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.82 billion, up 9.81% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Corteva, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Corteva, Inc. is currently a Zacks Rank #2 (Buy).
Digging into valuation, Corteva, Inc. currently has a Forward P/E ratio of 19.05. Its industry sports an average Forward P/E of 18.44, so we one might conclude that Corteva, Inc. is trading at a premium comparatively.
Also, we should mention that CTVA has a PEG ratio of 1.19. 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 was holding an average PEG ratio of 3.58 at yesterday's closing price.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.