DuPont de Nemours (NYSE:DD) Issues 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 guidance of $3.45-3.75 for the period, compared to the consensus earnings per share estimate of $3.44. The company issued revenue guidance of $12.1-12.4 billion, compared to the consensus revenue estimate of $12.13 billion. DuPont de Nemours also updated its FY 2024 guidance to 3.450-3.750 EPS.

DuPont de Nemours Price Performance

DuPont de Nemours stock traded down $0.08 during trading hours on Friday, reaching $77.67. 2,391,431 shares of the stock were exchanged, compared to its average volume of 2,373,408. The company has a current ratio of 2.33, a quick ratio of 1.73 and a debt-to-equity ratio of 0.32. DuPont de Nemours has a twelve month low of $61.14 and a twelve month high of $79.19. The company has a market cap of $32.47 billion, a P/E ratio of 94.77, a price-to-earnings-growth ratio of 2.48 and a beta of 1.39. The stock has a 50 day moving average of $73.93 and a two-hundred day moving average of $72.12.

DuPont de Nemours (NYSE:DD) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share 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 firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the business posted $0.84 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. Equities analysts expect that DuPont de Nemours will post 3.59 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DD. StockNews.com raised DuPont de Nemours from a sell rating to a hold rating in a research note on Wednesday, February 14th. Citigroup increased their price objective on shares of DuPont de Nemours from $73.00 to $80.00 and gave the stock a neutral rating in a research report on Wednesday, April 10th. Wells Fargo & Company boosted their target price 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 initiated coverage on DuPont de Nemours in a report on Friday, March 1st. They issued a peer perform rating on the stock. Finally, Barclays boosted their price objective on DuPont de Nemours from $70.00 to $81.00 and gave the company an equal weight rating in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $80.00.

Insiders Place Their Bets

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