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

DuPont de Nemours (NYSE:DD) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.45-$3.75 for the period, compared to the consensus estimate of $3.63. The company issued revenue guidance of $12.1-$12.4 billion, compared to the consensus revenue estimate of $12.27 billion.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DD. Jefferies Financial Group upgraded shares of DuPont de Nemours from a hold rating to a buy rating and lifted their price target for the stock from $78.00 to $101.00 in a report on Friday, May 17th. StockNews.com upgraded DuPont de Nemours from a sell rating to a hold rating in a research report on Wednesday, February 14th. Mizuho lifted their price objective on DuPont de Nemours from $83.00 to $100.00 and gave the stock a buy rating in a research note on Thursday. BMO Capital Markets raised shares of DuPont de Nemours from a market perform rating to an outperform rating and set a $96.00 target price for the company in a research report on Thursday. Finally, Wells Fargo & Company upgraded 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 research report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $88.50.

DuPont de Nemours Price Performance

DuPont de Nemours stock opened at $80.31 on Friday. The company’s 50 day moving average price is $76.17 and its two-hundred day moving average price is $72.78. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.32. DuPont de Nemours has a 52 week low of $61.14 and a 52 week high of $80.46. The stock has a market cap of $33.58 billion, a P/E ratio of 96.26, a P/E/G ratio of 2.26 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.14. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.81 billion. DuPont de Nemours had a return on equity of 6.07% and a net margin of 2.75%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the business posted $0.84 earnings per share. On average, equities analysts predict that DuPont de Nemours will post 3.64 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.52 annualized dividend and a dividend yield of 1.89%. DuPont de Nemours’s payout ratio is 185.37%.

Insider Activity at DuPont de Nemours

In other news, insider Leland Weaver sold 18,500 shares of the business’s stock in a transaction 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 in the company, valued at approximately $1,918,918.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Michael G. Goss sold 1,339 shares of the business’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 sale, the insider now directly owns 14,012 shares in the company, valued at approximately $1,097,559.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Leland Weaver sold 18,500 shares of the stock in a transaction 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 transaction, 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. In the last ninety days, insiders have sold 22,193 shares of company stock worth $1,726,655. 0.56% of the stock is 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.