U.S. markets close in 2 hours 11 minutes
  • S&P 500

    +49.38 (+1.28%)
  • Dow 30

    +261.92 (+0.84%)
  • Nasdaq

    +237.71 (+2.09%)
  • Russell 2000

    +41.90 (+2.43%)
  • Crude Oil

    +4.89 (+4.96%)
  • Gold

    +2.40 (+0.14%)
  • Silver

    +0.02 (+0.11%)

    -0.0028 (-0.27%)
  • 10-Yr Bond

    +0.0930 (+3.19%)

    +0.0079 (+0.67%)

    +0.1070 (+0.08%)

    +622.42 (+3.07%)
  • CMC Crypto 200

    +11.27 (+2.54%)
  • FTSE 100

    +81.31 (+1.14%)
  • Nikkei 225

    +382.88 (+1.47%)

Corteva, Inc. (CTVA) Gains As Market Dips: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

In the latest trading session, Corteva, Inc. (CTVA) closed at $56.39, marking a +0.27% move from the previous day. This change outpaced the S&P 500's 0.38% loss on the day. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.46%.

Coming into today, shares of the agriculture had lost 0.53% in the past month. In that same time, the Consumer Staples sector lost 6.88%, while the S&P 500 lost 6.69%.

Investors will be hoping for strength from Corteva, Inc. as it approaches its next earnings release. The company is expected to report EPS of $1.46, up 4.29% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.16 billion, up 9.44% from the prior-year quarter.

CTVA's full-year Zacks Consensus Estimates are calling for earnings of $2.54 per share and revenue of $17.05 billion. These results would represent year-over-year changes of +18.14% and +8.91%, respectively.

Any recent changes to analyst estimates for Corteva, Inc. should also be noted by investors. 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.

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. Within the past 30 days, our consensus EPS projection remained stagnant. Corteva, Inc. is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Corteva, Inc.'s current valuation metrics, including its Forward P/E ratio of 22.18. This represents a no noticeable deviation compared to its industry's average Forward P/E of 22.18.

Meanwhile, CTVA's PEG ratio is currently 1.66. 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. Agriculture - Operations stocks are, on average, holding a PEG ratio of 2.03 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 84, putting it in the top 34% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.