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

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. BMO Capital Markets raised shares of DuPont de Nemours from a market perform rating to an outperform rating and lifted their target price for the stock from $83.00 to $96.00 in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their target price on shares of DuPont de Nemours from $85.00 to $88.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Barclays lifted their target price on shares of DuPont de Nemours from $81.00 to $85.00 and gave the stock an equal weight rating in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft lifted their target price 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. Finally, Jefferies Financial Group raised shares of DuPont de Nemours from a hold rating to a buy rating and boosted their price objective for the company from $78.00 to $101.00 in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $91.58.

DuPont de Nemours Price Performance

Shares of DD traded down $3.54 during trading hours on Friday, reaching $79.12. 3,219,226 shares of the stock traded hands, compared to its average volume of 2,108,516. The company has a current ratio of 2.21, a quick ratio of 1.61 and a debt-to-equity ratio of 0.30. DuPont de Nemours has a 52-week low of $61.14 and a 52-week high of $85.12. The company’s 50-day moving average price is $80.39 and its two-hundred day moving average price is $75.44. The company has a market cap of $33.03 billion, a P/E ratio of 96.49, a price-to-earnings-growth ratio of 2.54 and a beta of 1.34.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.85 by $0.12. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 EPS. On average, analysts anticipate that DuPont de Nemours will post 3.69 earnings per share for the current 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 paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, August 30th. DuPont de Nemours’s payout ratio is currently 185.37%.

Insiders Place Their Bets

In related news, insider Leland Weaver sold 18,500 shares of the 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 completion of the transaction, the insider now owns 24,476 shares of the company’s stock, valued at approximately $1,918,918.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related 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 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 legal filing with the SEC, which can be accessed through this hyperlink. 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 completion of the sale, the insider now directly owns 24,476 shares in the company, valued at $1,918,918.40. The disclosure for this sale can be found here. Corporate 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.