Corteva, Inc. (CTVA) Stock Moves -0.2%: What You Should Know
In the latest market close, Corteva, Inc. (CTVA) reached $55.09, with a -0.2% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 0.65%. Elsewhere, the Dow saw a downswing of 0.49%, while the tech-heavy Nasdaq depreciated by 0.96%.
Shares of the agriculture witnessed a gain of 0.95% over the previous month, trailing the performance of the Consumer Staples sector with its gain of 2.58% and the S&P 500's gain of 3.27%.
The upcoming earnings release of Corteva, Inc. will be of great interest to investors. The company's earnings report is expected on May 1, 2024. The company is forecasted to report an EPS of $0.96, showcasing a 17.24% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $4.64 billion, indicating a 5.06% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.88 per share and revenue of $17.53 billion. These totals would mark changes of +7.06% and +1.77%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Corteva, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.59% lower. Corteva, Inc. presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Corteva, Inc. is presently being traded at a Forward P/E ratio of 19.14. This indicates a discount in contrast to its industry's Forward P/E of 21.5.
Investors should also note that CTVA has a PEG ratio of 1.39 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. CTVA's industry had an average PEG ratio of 1.39 as of yesterday's close.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 239, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Corteva, Inc. (CTVA) : Free Stock Analysis Report
