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Corteva, Inc. (CTVA) Dips More Than Broader Markets: What You Should Know
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Corteva, Inc. (CTVA - Free Report) closed at $55.79 in the latest trading session, marking a -0.78% move from the prior day. This change lagged the S&P 500's daily loss of 0.02%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the agriculture had lost 1.92% over the past month. This has lagged the Consumer Staples sector's gain of 3.85% and the S&P 500's gain of 5.14% in that time.
Corteva, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2023. In that report, analysts expect Corteva, Inc. to post earnings of $1.58 per share. This would mark a year-over-year decline of 3.66%. Meanwhile, our latest consensus estimate is calling for revenue of $6.45 billion, up 3.13% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.91 per share and revenue of $18.46 billion. These totals would mark changes of +8.99% and +5.78%, respectively, from last year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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. Within the past 30 days, our consensus EPS projection has moved 2.61% lower. Corteva, Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Corteva, Inc. is currently trading at a Forward P/E ratio of 19.35. Its industry sports an average Forward P/E of 18.04, 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 1.36. 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. Agriculture - Operations stocks are, on average, holding a PEG ratio of 1.31 based on yesterday's closing prices.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 176, 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) Dips More Than Broader Markets: What You Should Know
Corteva, Inc. (CTVA - Free Report) closed at $55.79 in the latest trading session, marking a -0.78% move from the prior day. This change lagged the S&P 500's daily loss of 0.02%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the agriculture had lost 1.92% over the past month. This has lagged the Consumer Staples sector's gain of 3.85% and the S&P 500's gain of 5.14% in that time.
Corteva, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2023. In that report, analysts expect Corteva, Inc. to post earnings of $1.58 per share. This would mark a year-over-year decline of 3.66%. Meanwhile, our latest consensus estimate is calling for revenue of $6.45 billion, up 3.13% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.91 per share and revenue of $18.46 billion. These totals would mark changes of +8.99% and +5.78%, respectively, from last year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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, 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. Within the past 30 days, our consensus EPS projection has moved 2.61% lower. Corteva, Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Corteva, Inc. is currently trading at a Forward P/E ratio of 19.35. Its industry sports an average Forward P/E of 18.04, 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 1.36. 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. Agriculture - Operations stocks are, on average, holding a PEG ratio of 1.31 based on yesterday's closing prices.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 176, 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.