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Corteva, Inc. (CTVA) closed at $55.46 in the latest trading session, marking a -0.02% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.15%. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.13%.
Heading into today, shares of the agriculture had gained 2.27% over the past month, outpacing the Consumer Staples sector's loss of 0.47% and the S&P 500's gain of 1.44% in that time.
Wall Street will be looking for positivity from Corteva, Inc. as it approaches its next earnings report date. This is expected to be August 4, 2022. In that report, analysts expect Corteva, Inc. to post earnings of $1.47 per share. This would mark year-over-year growth of 5%. Our most recent consensus estimate is calling for quarterly revenue of $6.18 billion, up 9.77% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.55 per share and revenue of $17.06 billion, which would represent changes of +18.6% and +8.98%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Corteva, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.25% higher. Corteva, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Corteva, Inc. is currently trading at a Forward P/E ratio of 21.72. This represents a premium compared to its industry's average Forward P/E of 21.17.
Investors should also note that CTVA has a PEG ratio of 1.58 right now. 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 2.23 based on yesterday's closing prices.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% 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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