E.I. du Pont de Nemours and Company (DD) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research lowered shares of E.I. du Pont de Nemours and Company (NYSE:DD) from a buy rating to a hold rating in a research report report published on Monday morning.
According to Zacks, “DuPont’s adjusted earnings for second-quarter 2017 topped the Zacks Consensus Estimate. Revenues also rose year over year and beat expectations. DuPont has outperformed the industry it belongs to over the past three months. DuPont is well placed to gain from its cost-cutting and productivity improvement measures. The company's aggressive actions to cut operational costs should continue to lend support to its earnings. Its agriculture business is also gaining from new product launches. The company has numerous new products in its pipeline that should contribute to top line growth. DuPont is also moving forward with its planned mega-merger with Dow Chemical, which is expected to create significant synergies. However, DuPont is exposed to raw material cost pressure and currency headwind and also faces certain challenges in its nutrition & health and electronics businesses. Its agriculture business is also not out of the woods yet.”
A number of other equities research analysts also recently weighed in on DD. BidaskClub upgraded E.I. du Pont de Nemours and from a sell rating to a hold rating in a report on Saturday, August 19th. Royal Bank Of Canada reiterated a sector perform rating and issued a $86.00 target price (up from $78.00) on shares of E.I. du Pont de Nemours and in a report on Wednesday, April 26th. Finally, Deutsche Bank AG reiterated a buy rating and issued a $95.00 target price (up from $90.00) on shares of E.I. du Pont de Nemours and in a report on Saturday, April 29th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $81.25.
E.I. du Pont de Nemours and (DD) opened at 82.39 on Monday. The firm has a market capitalization of $71.50 billion, a PE ratio of 32.18 and a beta of 1.76. The firm has a 50 day moving average of $82.84 and a 200 day moving average of $80.55. E.I. du Pont de Nemours and has a one year low of $66.02 and a one year high of $86.36.
E.I. du Pont de Nemours and (NYSE:DD) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.09. The business had revenue of $7.42 billion during the quarter, compared to the consensus estimate of $7.28 billion. E.I. du Pont de Nemours and had a return on equity of 31.23% and a net margin of 8.86%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. Equities analysts forecast that E.I. du Pont de Nemours and will post $3.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, July 27th. This represents a $1.52 annualized dividend and a dividend yield of 1.84%. E.I. du Pont de Nemours and’s dividend payout ratio is 59.38%.
In related news, SVP Benito Cachinero sold 10,621 shares of E.I. du Pont de Nemours and stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $81.67, for a total transaction of $867,417.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Architects Inc boosted its position in shares of E.I. du Pont de Nemours and by 18.2% in the first quarter. Financial Architects Inc now owns 1,292 shares of the basic materials company’s stock valued at $103,000 after buying an additional 199 shares during the last quarter. Acrospire Investment Management LLC bought a new position in shares of E.I. du Pont de Nemours and during the first quarter valued at about $104,000. Reilly Financial Advisors LLC boosted its position in shares of E.I. du Pont de Nemours and by 61.1% in the second quarter. Reilly Financial Advisors LLC now owns 1,319 shares of the basic materials company’s stock valued at $106,000 after buying an additional 500 shares during the last quarter. Invictus RG bought a new position in shares of E.I. du Pont de Nemours and during the first quarter valued at about $116,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of E.I. du Pont de Nemours and during the first quarter valued at about $125,000. 71.18% of the stock is currently owned by institutional investors.
E.I. du Pont de Nemours and Company Profile
E. I. du Pont de Nemours and Company is a science and technology-based company. It operates through six segments: Agriculture, Electronics & Communications (E&C), Industrial Biosciences, Nutrition & Health, Performance Materials and Protection Solutions. Its Agriculture segment includes products, such as corn hybrids and soybean varieties, herbicides, fungicides and insecticides.
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