DuPont Co. (DD) Lowered to “Hold” at Zacks Investment Research
According to Zacks, “DuPont’s adjusted earnings for third-quarter 2016 topped the Zacks Consensus Estimate, aided by its cost management actions. Revenues rose modestly year over year and beat expectations. The company raised its adjusted earnings guidance for 2016. DuPont is well placed to gain from its aggressive cost-cutting actions and new product launches. The company is also moving forward with its planned mega-merger with Dow Chemical, which is expected to create significant synergies. Moreover, it remains committed to maximize shareholder value. However, DuPont continues to face challenges in the agriculture business. Additionally, the company is exposed to volatility in currency as well as energy and raw material costs, which can have signicant impact on results.”
Other analysts have also recently issued reports about the stock. Nomura started coverage on shares of DuPont in a research note on Tuesday, October 18th. They issued a buy rating and a $78.00 target price for the company. Citigroup Inc. upgraded shares of DuPont from a neutral rating to a buy rating and lifted their price target for the company from $72.00 to $76.00 in a report on Monday, October 3rd. Barclays PLC lifted their price target on shares of DuPont from $67.00 to $70.00 and gave the company an equal weight rating in a report on Wednesday, July 27th. Finally, Deutsche Bank AG lifted their price target on shares of DuPont from $55.00 to $56.00 and gave the company a sell rating in a report on Friday, August 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $71.33.
DuPont (NYSE:DD) opened at 70.32 on Thursday. The stock has a market cap of $61.13 billion, a price-to-earnings ratio of 31.12 and a beta of 1.71. DuPont has a 12-month low of $50.71 and a 12-month high of $75.72. The company has a 50-day moving average price of $69.21 and a 200 day moving average price of $67.80.
DuPont (NYSE:DD) last released its earnings results on Tuesday, October 25th. The company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.13. The firm earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.86 billion. DuPont had a net margin of 8.08% and a return on equity of 27.16%. DuPont’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. On average, equities research analysts predict that DuPont will post $3.26 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Thursday, November 10th. DuPont’s dividend payout ratio is currently 67.26%.
Several hedge funds have recently modified their holdings of the company. Capital World Investors raised its stake in DuPont by 8.3% in the second quarter. Capital World Investors now owns 97,323,259 shares of the company’s stock valued at $6,306,547,000 after buying an additional 7,484,437 shares in the last quarter. Vanguard Group Inc. raised its stake in DuPont by 2.7% in the second quarter. Vanguard Group Inc. now owns 55,881,243 shares of the company’s stock valued at $3,621,105,000 after buying an additional 1,474,722 shares in the last quarter. FMR LLC raised its stake in DuPont by 18.8% in the second quarter. FMR LLC now owns 25,133,333 shares of the company’s stock valued at $1,628,640,000 after buying an additional 3,970,004 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in DuPont by 1.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 23,066,336 shares of the company’s stock valued at $1,544,753,000 after buying an additional 279,053 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in DuPont by 19.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 19,908,795 shares of the company’s stock valued at $1,333,292,000 after buying an additional 3,278,847 shares in the last quarter. 71.53% of the stock is owned by institutional investors.
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E. I. du Pont de Nemours and Company (DuPont) is a science and technology-based company. The Company consists of over 10 businesses aggregated into six segments: Agriculture, Electronics & Communications, Industrial Biosciences, Nutrition & Health, Performance Materials and Safety & Protection. Its products include corn hybrids and soybean varieties, herbicides, fungicides and insecticides in Agriculture segment; photopolymers and electronic materials in Electronics & Communications segment; enzymes and bio-based materials in Industrial Biosciences segment; cultures, emulsifiers, texturants, natural sweeteners and soy-based food ingredients in Nutrition & Health segment; engineering polymers, packaging and industrial polymers, films and elastomers in Performance Materials segment, and nonwovens, aramids and solid surfaces in Safety & Protection segment.
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