Corteva, Inc. (CTVA) closed the most recent trading day at $62.04, moving +0.36% from the previous trading session. This move lagged the S&P 500's daily gain of 0.66%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, lost 0.02%.
Prior to today's trading, shares of the agriculture had gained 2.88% over the past month. This has outpaced the Consumer Staples sector's loss of 2.55% and the S&P 500's loss of 3.79% in that time.
Investors will be hoping for strength from Corteva, Inc. as it approaches its next earnings release. In that report, analysts expect Corteva, Inc. to post earnings of -$0.20 per share. This would mark a year-over-year decline of 42.86%. Meanwhile, our latest consensus estimate is calling for revenue of $2.57 billion, up 8.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.58 per share and revenue of $17.29 billion. These totals would mark changes of +20% and +10.47%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Corteva, Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.28% higher. Corteva, Inc. currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Corteva, Inc. currently has a Forward P/E ratio of 23.94. For comparison, its industry has an average Forward P/E of 23.94, which means Corteva, Inc. is trading at a no noticeable deviation to the group.
Investors should also note that CTVA has a PEG ratio of 1.57 right now. 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. CTVA's industry had an average PEG ratio of 2.34 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 186, which puts it in the bottom 27% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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