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 $3.44. 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.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. TheStreet lowered shares of DuPont de Nemours from a b- rating to a c rating in a research note on Tuesday, February 6th. Royal Bank of Canada boosted their price objective on shares of DuPont de Nemours from $75.00 to $83.00 and gave the company an outperform rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. raised their target price on shares of DuPont de Nemours from $85.00 to $88.00 and gave the stock an overweight rating in a report on Thursday. Mizuho boosted their target price on shares of DuPont de Nemours from $76.00 to $83.00 and gave the company a buy rating in a research note on Thursday. Finally, Citigroup boosted their target price on shares of DuPont de Nemours from $73.00 to $80.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, DuPont de Nemours presently has a consensus rating of Hold and an average price target of $80.00.

DuPont de Nemours Price Performance

Shares of DD traded down $0.08 during midday trading on Friday, hitting $77.67. 2,391,431 shares of the company traded hands, compared to its average volume of 2,373,408. The firm has a 50 day moving average of $73.93 and a 200-day moving average of $72.12. DuPont de Nemours has a 52 week low of $61.14 and a 52 week high of $79.19. The stock has a market cap of $32.47 billion, a price-to-earnings ratio of 94.77, a PEG ratio of 2.48 and a beta of 1.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.73 and a current ratio of 2.33.

DuPont de Nemours (NYSE:DD) last announced its quarterly 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 net margin of 2.75% and a return on equity of 6.07%. The firm 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 firm earned $0.84 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts forecast 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 $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Thursday, May 30th. DuPont de Nemours’s dividend payout ratio (DPR) is currently 185.37%.

Insider Buying and Selling

In other news, insider Michael G. Goss sold 2,354 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $72.80, for a total transaction of $171,371.20. Following the transaction, the insider now directly owns 15,587 shares of the company’s stock, valued at $1,134,733.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.56% of the stock is currently 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.