DuPont de Nemours (NYSE:DD) Updates Q3 Earnings Guidance

DuPont de Nemours (NYSE:DD) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of ~$1.03 for the period, compared to the consensus earnings per share estimate of $1.02. The company issued revenue guidance of ~$3.20 billion, compared to the consensus revenue estimate of $3.20 billion. DuPont de Nemours also updated its FY24 guidance to $3.70-3.80 EPS.

DuPont de Nemours Stock Performance

Shares of NYSE DD opened at $83.56 on Wednesday. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.32. DuPont de Nemours has a 12 month low of $61.14 and a 12 month high of $83.90. The company has a 50 day simple moving average of $80.25 and a two-hundred day simple moving average of $75.30. The stock has a market cap of $34.94 billion, a price-to-earnings ratio of 98.05, a PEG ratio of 2.52 and a beta of 1.34.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.65 by $0.14. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.81 billion. DuPont de Nemours had a net margin of 2.75% and a return on equity of 6.07%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. As a group, analysts predict that DuPont de Nemours will post 3.63 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, August 30th. DuPont de Nemours’s dividend payout ratio (DPR) is 185.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DD. JPMorgan Chase & Co. lifted their target price on shares of DuPont de Nemours from $85.00 to $88.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Mizuho boosted their price target on shares of DuPont de Nemours from $83.00 to $100.00 and gave the stock a buy rating in a report on Thursday, May 23rd. Wells Fargo & Company raised shares of DuPont de Nemours from an equal weight rating to an overweight rating and boosted their price target for the stock from $80.00 to $103.00 in a report on Friday, May 24th. Jefferies Financial Group raised shares of DuPont de Nemours from a hold rating to a buy rating and boosted their price target for the stock from $78.00 to $101.00 in a report on Friday, May 17th. Finally, Citigroup cut their price target on shares of DuPont de Nemours from $95.00 to $94.00 and set a buy rating for the company in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, DuPont de Nemours currently has an average rating of Moderate Buy and an average target price of $91.00.

Insider Buying and Selling at DuPont de Nemours

In other DuPont de Nemours news, insider Leland Weaver sold 18,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $78.40, for a total value of $1,450,400.00. Following the transaction, the insider now owns 24,476 shares of the company’s stock, valued at $1,918,918.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Michael G. Goss sold 1,339 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $78.33, for a total transaction of $104,883.87. Following the sale, the insider now owns 14,012 shares of the company’s stock, valued at $1,097,559.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leland Weaver sold 18,500 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $78.40, for a total transaction of $1,450,400.00. Following the sale, the insider now directly owns 24,476 shares in the company, valued at approximately $1,918,918.40. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by corporate insiders.

DuPont de Nemours Company Profile

DuPont de Nemours, Inc provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments. The Electronics & Industrial segment supplies materials and solutions for the fabrication of semiconductors and integrated circuits.