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

DuPont de Nemours (NYSE:DD) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $3.70-3.80 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

Several research firms have recently commented on DD. Deutsche Bank Aktiengesellschaft upped their target price on DuPont de Nemours from $92.00 to $98.00 and gave the company a buy rating in a report on Thursday. Mizuho upped their target price on DuPont de Nemours from $83.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. upped their target price on DuPont de Nemours from $85.00 to $88.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. BMO Capital Markets upgraded DuPont de Nemours from a market perform rating to an outperform rating and upped their target price for the stock from $83.00 to $96.00 in a research report on Thursday, May 23rd. Finally, Jefferies Financial Group upgraded DuPont de Nemours from a hold rating to a buy rating and increased their price objective for the company from $78.00 to $101.00 in a research report on Friday, May 17th. One 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $91.58.

DuPont de Nemours Stock Performance

Shares of NYSE:DD traded down $3.54 during midday 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 stock has a market capitalization of $33.03 billion, a price-to-earnings ratio of 96.49, a PEG ratio of 2.54 and a beta of 1.34. The stock’s 50 day simple moving average is $80.39 and its 200 day simple moving average is $75.44. DuPont de Nemours has a fifty-two week low of $61.14 and a fifty-two week high of $85.12. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.61 and a current ratio of 2.21.

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

DuPont de Nemours Announces Dividend

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

Insider Buying and Selling

In related news, insider Michael G. Goss sold 1,339 shares of DuPont de Nemours stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $78.33, for a total transaction of $104,883.87. Following the sale, the insider now directly owns 14,012 shares of the company’s stock, valued at $1,097,559.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other DuPont de Nemours news, insider Michael G. Goss sold 1,339 shares of DuPont de Nemours stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $78.33, for a total transaction of $104,883.87. Following the sale, the insider now directly owns 14,012 shares of the company’s stock, valued at $1,097,559.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leland Weaver sold 18,500 shares of DuPont de Nemours stock in a transaction that occurred on 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 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. 0.56% of the stock is owned by company insiders.

About DuPont de Nemours

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.