DuPont Co. (DD) Rating Increased to Buy at Zacks Investment Research
DuPont Co. (NYSE:DD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $79.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 12.34% from the stock’s current price.
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.”
A number of other equities analysts have also recently issued reports on the stock. Nomura assumed coverage on shares of DuPont in a report on Tuesday, October 18th. They issued a “buy” rating and a $78.00 target price on the stock. Citigroup Inc. raised shares of DuPont from a “neutral” rating to a “buy” rating and raised their target price for the stock from $72.00 to $76.00 in a report on Monday, October 3rd. Deutsche Bank AG lifted their price target on DuPont from $55.00 to $56.00 and gave the company a “sell” rating in a report on Friday, August 12th. Barclays PLC reaffirmed a “neutral” rating on shares of DuPont in a report on Thursday, July 28th. Finally, TheStreet cut DuPont from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $71.33.
Shares of DuPont (NYSE:DD) opened at 70.32 on Wednesday. The firm has a market cap of $61.13 billion, a PE ratio of 31.12 and a beta of 1.71. The firm’s 50-day moving average price is $69.21 and its 200-day moving average price is $67.80. DuPont has a one year low of $50.71 and a one year high of $75.72.
DuPont (NYSE:DD) last issued its earnings results on Tuesday, October 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.13. DuPont had a net margin of 8.08% and a return on equity of 27.16%. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the company posted $0.13 earnings per share. DuPont’s revenue was up .9% on a year-over-year basis. Equities research analysts expect that DuPont will post $3.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, November 10th. DuPont’s payout ratio is 67.26%.
A number of institutional investors have recently bought and sold shares of the company. Endurance Wealth Management Inc. raised its stake in shares of DuPont by 3,600.0% in the third quarter. Endurance Wealth Management Inc. now owns 1,480 shares of the company’s stock worth $102,000 after buying an additional 1,440 shares during the period. Timber Creek Capital Management LLC raised its stake in shares of DuPont by 200.0% in the third quarter. Timber Creek Capital Management LLC now owns 1,650 shares of the company’s stock worth $110,000 after buying an additional 1,100 shares during the period. Enterprise Financial Services Corp raised its stake in shares of DuPont by 4.6% in the third quarter. Enterprise Financial Services Corp now owns 1,731 shares of the company’s stock worth $116,000 after buying an additional 76 shares during the period. Pinkerton Retirement Specialists LLC raised its stake in shares of DuPont by 5,435.3% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,882 shares of the company’s stock worth $122,000 after buying an additional 1,848 shares during the period. Finally, Integrated Investment Consultants LLC raised its stake in shares of DuPont by 10.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,050 shares of the company’s stock worth $133,000 after buying an additional 191 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.
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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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