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

DuPont de Nemours (NYSE:DD) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of ~$1.03 for the period, compared to the consensus EPS 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

NYSE:DD traded down $3.54 during mid-day trading on Friday, hitting $79.12. The company’s stock had a trading volume of 3,219,226 shares, compared to its average volume of 2,108,516. The business’s fifty day moving average is $80.39 and its two-hundred day moving average is $75.44. The stock has a market cap of $33.03 billion, a price-to-earnings ratio of 96.49, a PEG ratio of 2.54 and a beta of 1.34. DuPont de Nemours has a 1 year low of $61.14 and a 1 year high of $85.12. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 1.61.

DuPont de Nemours (NYSE:DD) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.05 billion. DuPont de Nemours had a net margin of 5.30% and a return on equity of 6.31%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Analysts anticipate that DuPont de Nemours will post 3.69 EPS for the current fiscal year.

DuPont de Nemours Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.92%. DuPont de Nemours’s dividend payout ratio (DPR) is currently 185.37%.

Analysts Set New Price Targets

DD has been the subject of several research analyst reports. BMO Capital Markets upgraded shares of DuPont de Nemours from a market perform rating to an outperform rating and upped their price target for the stock from $83.00 to $96.00 in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of DuPont de Nemours from $92.00 to $98.00 and gave the stock a buy rating in a research report on Thursday. UBS Group upped their price target on shares of DuPont de Nemours from $93.00 to $98.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. Mizuho upped their price target on shares of DuPont de Nemours from $83.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company upgraded shares of DuPont de Nemours from an equal weight rating to an overweight rating and upped their price target for the stock from $80.00 to $103.00 in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, DuPont de Nemours has an average rating of Moderate Buy and a consensus target price of $91.58.

Insider Buying and Selling

In related news, insider Michael G. Goss sold 1,339 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $78.33, for a total transaction of $104,883.87. Following the completion of the transaction, the insider now owns 14,012 shares of the company’s stock, valued at approximately $1,097,559.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other DuPont de Nemours news, insider Michael G. Goss sold 1,339 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $78.33, for a total value of $104,883.87. Following the completion of the transaction, the insider now owns 14,012 shares of the company’s stock, valued at approximately $1,097,559.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leland Weaver sold 18,500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $78.40, for a total transaction of $1,450,400.00. Following the completion of the transaction, the insider now directly owns 24,476 shares of the company’s stock, 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.