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 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.

DuPont de Nemours Stock Down 4.3 %

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

DuPont de Nemours (NYSE:DD) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.12. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 EPS. On average, equities research analysts anticipate that DuPont de Nemours will post 3.69 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, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.38 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a yield of 1.92%. DuPont de Nemours’s dividend payout ratio is currently 185.37%.

Analysts Set New Price Targets

A number of equities analysts have commented on DD shares. BMO Capital Markets upgraded shares of DuPont de Nemours from a market perform rating to an outperform rating and boosted their price objective for the stock from $83.00 to $96.00 in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of DuPont de Nemours from $92.00 to $98.00 and gave the stock a buy rating in a report on Thursday. Citigroup cut their target price on shares of DuPont de Nemours from $95.00 to $94.00 and set a buy rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company upgraded shares of DuPont de Nemours from an equal weight rating to an overweight rating and upped their target price for the company from $80.00 to $103.00 in a research note on Friday, May 24th. Finally, UBS Group upped their target price on shares of DuPont de Nemours from $93.00 to $98.00 and gave the company a buy rating in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $91.58.

Insider Transactions at DuPont de Nemours

In other news, insider Leland Weaver sold 18,500 shares of the company’s 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 completion of the sale, the insider now directly owns 24,476 shares of the company’s stock, valued at approximately $1,918,918.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Leland Weaver sold 18,500 shares of the stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael G. Goss sold 1,339 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were 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 disclosure for this sale can be found here. Company 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.