DuPont de Nemours (NYSE:DD) Updates FY 2024 Earnings Guidance

DuPont de Nemours (NYSE:DD) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.450-3.750 for the period, compared to the consensus earnings per share estimate of 3.450. The company issued revenue guidance of $12.1 billion-$12.4 billion, compared to the consensus revenue estimate of $12.1 billion. DuPont de Nemours also updated its FY24 guidance to $3.45-3.75 EPS.

DuPont de Nemours Price Performance

Shares of NYSE DD opened at $77.71 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.33 and a quick ratio of 1.73. The stock has a fifty day moving average price of $73.77 and a 200 day moving average price of $72.11. DuPont de Nemours has a 1-year low of $61.14 and a 1-year high of $79.19. The company has a market cap of $32.49 billion, a PE ratio of 94.77, a P/E/G ratio of 2.48 and a beta of 1.39.

DuPont de Nemours (NYSE:DD) last released its earnings results on Wednesday, May 1st. The basic materials company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.14. DuPont de Nemours had a return on equity of 6.07% and a net margin of 2.75%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the company earned $0.84 earnings per share. DuPont de Nemours’s quarterly revenue was down 2.9% compared to the same quarter last year. Sell-side analysts forecast that DuPont de Nemours will post 3.59 EPS for the current year.

DuPont de Nemours Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, May 30th. DuPont de Nemours’s dividend payout ratio is currently 185.37%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on DuPont de Nemours from $85.00 to $88.00 and gave the company an overweight rating in a research report on Thursday. Wells Fargo & Company raised their price target on DuPont de Nemours from $69.00 to $80.00 and gave the company an equal weight rating in a research report on Thursday, April 11th. Wolfe Research began coverage on DuPont de Nemours in a research report on Friday, March 1st. They issued a peer perform rating for the company. Mizuho lifted their price objective on DuPont de Nemours from $76.00 to $83.00 and gave the stock a buy rating in a research report on Thursday. Finally, Bank of America cut DuPont de Nemours from a buy rating to an underperform rating and lifted their price objective for the stock from $78.00 to $80.00 in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $80.00.

Insider Buying and Selling at DuPont de Nemours

In other news, insider Michael G. Goss sold 2,354 shares of DuPont de Nemours stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $72.80, for a total value of $171,371.20. Following the transaction, the insider now directly owns 15,587 shares of the company’s stock, valued at approximately $1,134,733.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is owned by company 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.