DuPont de Nemours (NYSE:DD) Releases FY24 Earnings Guidance

DuPont de Nemours (NYSE:DD) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.70-3.80 for the period, compared to the consensus earnings per share estimate of $3.64. The company issued revenue guidance of $12.4-12.5 billion, compared to the consensus revenue estimate of $12.27 billion. DuPont de Nemours also updated its Q3 guidance to ~$1.03 EPS.

Analysts Set New Price Targets

Several research firms recently issued reports on DD. Wells Fargo & Company raised shares of DuPont de Nemours from an equal weight rating to an overweight rating and lifted their price objective for the company from $80.00 to $103.00 in a research note on Friday, May 24th. UBS Group upped their price target on DuPont de Nemours from $93.00 to $98.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. JPMorgan Chase & Co. increased their price objective on DuPont de Nemours from $85.00 to $88.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Barclays boosted their target price on DuPont de Nemours from $81.00 to $85.00 and gave the stock an equal weight rating in a report on Tuesday, May 28th. Finally, BMO Capital Markets upgraded DuPont de Nemours from a market perform rating to an outperform rating and increased their price target for the company from $83.00 to $96.00 in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, DuPont de Nemours presently has a consensus rating of Moderate Buy and an average price target of $91.58.

DuPont de Nemours Stock Performance

NYSE DD traded down $3.54 during midday trading on Friday, hitting $79.12. The company had a trading volume of 3,219,226 shares, compared to its average volume of 2,108,516. The company has a quick ratio of 1.61, a current ratio of 2.21 and a debt-to-equity ratio of 0.30. The stock has a market cap of $33.03 billion, a price-to-earnings ratio of 96.49, a P/E/G ratio of 2.54 and a beta of 1.34. The firm has a fifty day simple moving average of $80.39 and a two-hundred day simple moving average of $75.44. DuPont de Nemours has a fifty-two week low of $61.14 and a fifty-two week high of $85.12.

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

DuPont de Nemours Dividend Announcement

The business also recently declared 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 is Friday, August 30th. This represents a $1.52 annualized dividend and a yield of 1.92%. DuPont de Nemours’s dividend payout ratio is 185.37%.

Insiders Place Their Bets

In other news, insider Michael G. Goss sold 1,339 shares of the firm’s 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 completion of the transaction, the insider now directly owns 14,012 shares of the company’s stock, valued at approximately $1,097,559.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Leland Weaver sold 18,500 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael G. Goss sold 1,339 shares of DuPont de Nemours 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 transaction, the insider now directly owns 14,012 shares of the company’s stock, valued at $1,097,559.96. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

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.