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

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

Analyst Ratings Changes

Several research firms have weighed in on DD. Jefferies Financial Group raised shares of DuPont de Nemours from a hold rating to a buy rating and boosted their price target for the stock from $78.00 to $101.00 in a research note on Friday, May 17th. JPMorgan Chase & Co. boosted their price objective on shares of DuPont de Nemours from $85.00 to $88.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Citigroup decreased their price objective on shares of DuPont de Nemours from $95.00 to $94.00 and set a buy rating on the stock in a research report on Friday, July 12th. BMO Capital Markets upgraded shares of DuPont de Nemours from a market perform rating to an outperform rating and boosted their price target for the company from $83.00 to $96.00 in a research report on Thursday, May 23rd. Finally, UBS Group boosted their price objective on shares of DuPont de Nemours from $93.00 to $98.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, DuPont de Nemours presently has a consensus rating of Moderate Buy and a consensus price target of $91.00.

DuPont de Nemours Stock Up 3.9 %

Shares of DD stock opened at $83.56 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.33 and a quick ratio of 1.61. The company has a market capitalization of $34.94 billion, a price-to-earnings ratio of 98.05, a PEG ratio of 2.52 and a beta of 1.34. The company’s fifty day moving average price is $80.25 and its 200-day moving average price is $75.30. DuPont de Nemours has a one year low of $61.14 and a one year high of $83.90.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.14. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.81 billion. DuPont de Nemours had a net margin of 2.75% and a return on equity of 6.07%. DuPont de Nemours’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. Sell-side analysts expect that DuPont de Nemours will post 3.63 EPS for the current fiscal year.

DuPont de Nemours Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.82%. DuPont de Nemours’s payout ratio is currently 185.37%.

Insiders Place Their Bets

In other DuPont de Nemours news, insider Michael G. Goss sold 1,339 shares of DuPont de Nemours stock in a transaction 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 transaction, the insider now directly owns 14,012 shares of the company’s stock, valued at approximately $1,097,559.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other DuPont de Nemours news, insider Michael G. Goss sold 1,339 shares of the business’s 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 sale, the insider now directly owns 14,012 shares of the company’s stock, valued at approximately $1,097,559.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Leland Weaver sold 18,500 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 24,476 shares of the company’s stock, 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.

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.