DuPont de Nemours (NYSE:DD) Issues Q2 2024 Earnings Guidance

DuPont de Nemours (NYSE:DD) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.840-0.840 for the period, compared to the consensus earnings per share estimate of 0.850. The company issued revenue guidance of $3.0 billion-$3.0 billion, compared to the consensus revenue estimate of $3.0 billion. DuPont de Nemours also updated its FY 2024 guidance to 3.450-3.750 EPS.

DuPont de Nemours Trading Up 0.4 %

NYSE DD opened at $80.72 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.61 and a current ratio of 2.33. DuPont de Nemours has a fifty-two week low of $61.14 and a fifty-two week high of $82.63. The stock has a market cap of $33.75 billion, a P/E ratio of 98.44, a price-to-earnings-growth ratio of 2.52 and a beta of 1.36. The stock has a 50 day simple moving average of $77.95 and a two-hundred day simple moving average of $74.11.

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, topping analysts’ consensus estimates of $0.65 by $0.14. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.81 billion. DuPont de Nemours had a return on equity of 6.07% and a net margin of 2.75%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. On average, analysts forecast that DuPont de Nemours will post 3.63 earnings per share for the current year.

DuPont de Nemours Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Friday, May 31st. DuPont de Nemours’s payout ratio is 185.37%.

Analysts Set New Price Targets

Several analysts have weighed in on DD shares. Mizuho lifted their price objective on DuPont de Nemours from $83.00 to $100.00 and gave the company a buy rating in a research report on Thursday, May 23rd. Jefferies Financial Group raised DuPont de Nemours from a hold rating to a buy rating and raised their price objective for the company from $78.00 to $101.00 in a research report on Friday, May 17th. Wolfe Research started coverage on shares of DuPont de Nemours in a research note on Friday, March 1st. They set a peer perform rating on the stock. UBS Group raised their price objective on DuPont de Nemours from $93.00 to $98.00 and gave the company a buy rating in a research report on Wednesday, May 29th. Finally, Citigroup raised DuPont de Nemours from a neutral rating to a buy rating and boosted their target price for the stock from $85.00 to $95.00 in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $91.09.

Insider Activity

In other news, insider Leland Weaver sold 18,500 shares of the firm’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 sale, the insider now owns 24,476 shares of the company’s stock, valued at approximately $1,918,918.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, 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 value of $104,883.87. Following the transaction, the insider now owns 14,012 shares in the company, valued at approximately $1,097,559.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leland Weaver sold 18,500 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $78.40, for a total transaction of $1,450,400.00. Following the completion of the transaction, the insider now owns 24,476 shares in the company, 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.

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.