Corteva, Inc. (CTVA) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Corteva, Inc. (CTVA) closed at $53.22, marking a -1.52% move from the previous day. This change lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.22%.
Coming into today, shares of the agriculture had lost 10.15% in the past month. In that same time, the Consumer Staples sector lost 9.21%, while the S&P 500 lost 10.02%.
Wall Street will be looking for positivity from Corteva, Inc. as it approaches its next earnings report date. In that report, analysts expect Corteva, Inc. to post earnings of $1.46 per share. This would mark year-over-year growth of 4.29%. Our most recent consensus estimate is calling for quarterly revenue of $6.16 billion, up 9.44% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.54 per share and revenue of $17.05 billion, which would represent changes of +18.14% and +8.91%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Corteva, Inc.Recent revisions tend to reflect the latest 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Corteva, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Corteva, Inc. currently has a Forward P/E ratio of 20.99. This represents a no noticeable deviation compared to its industry's average Forward P/E of 20.99.
Also, we should mention that CTVA has a PEG ratio of 1.57. 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. The Agriculture - Operations industry currently had an average PEG ratio of 1.91 as of yesterday's close.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% 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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