Corteva, Inc. (CTVA) Rises As Market Takes a Dip: Key Facts
Corteva, Inc. (CTVA) ended the recent trading session at $46.55, demonstrating a +0.02% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.36%.
Coming into today, shares of the agriculture had lost 0.92% in the past month. In that same time, the Consumer Staples sector gained 2.74%, while the S&P 500 gained 5.21%.
The investment community will be closely monitoring the performance of Corteva, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.06, reflecting a 62.5% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $3.53 billion, indicating a 7.63% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.59 per share and revenue of $17.11 billion, which would represent changes of -3% and -2%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Corteva, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.53% downward. Right now, Corteva, Inc. possesses a Zacks Rank of #4 (Sell).
With respect to valuation, Corteva, Inc. is currently being traded at a Forward P/E ratio of 17.95. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 17.95.
We can additionally observe that CTVA currently boasts a PEG ratio of 1.39. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Agriculture - Operations was holding an average PEG ratio of 1.11 at yesterday's closing price.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 154, finds itself in the bottom 39% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Corteva, Inc. (CTVA) : Free Stock Analysis Report
