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 earnings per share guidance of $3.45-$3.75 for the period, compared to the consensus earnings per share estimate of $3.63. The company issued revenue guidance of $12.1-$12.4 billion, compared to the consensus revenue estimate of $12.27 billion.

DuPont de Nemours Price Performance

DuPont de Nemours stock traded down $0.97 during midday trading on Wednesday, reaching $78.55. 1,810,576 shares of the stock were exchanged, compared to its average volume of 2,885,350. The company’s fifty day moving average is $75.97 and its 200-day moving average is $72.70. 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 52 week low of $61.14 and a 52 week high of $80.41. The firm has a market cap of $32.84 billion, a PE ratio of 96.98, a PEG ratio of 2.30 and a beta of 1.39.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.14. DuPont de Nemours had a net margin of 2.75% and a return on equity of 6.07%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the business posted $0.84 earnings per share. DuPont de Nemours’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, sell-side analysts forecast that DuPont de Nemours will post 3.64 EPS for the current year.

DuPont de Nemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, May 31st. DuPont de Nemours’s dividend payout ratio is presently 185.37%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DD. Jefferies Financial Group upgraded shares of DuPont de Nemours from a hold rating to a buy rating and boosted their price objective for the company from $78.00 to $101.00 in a research report on Friday, May 17th. Mizuho lifted their price objective on DuPont de Nemours from $76.00 to $83.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Wells Fargo & Company upped their target price on DuPont de Nemours from $69.00 to $80.00 and gave the company an equal weight rating in a report on Thursday, April 11th. Wolfe Research initiated coverage on DuPont de Nemours in a research note on Friday, March 1st. They issued a peer perform rating for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of DuPont de Nemours from $85.00 to $88.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $82.10.

Insider Buying and Selling

In other DuPont de Nemours news, insider Michael G. Goss sold 2,354 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $72.80, for a total value of $171,371.20. Following the sale, the insider now directly owns 15,587 shares of the company’s stock, valued at $1,134,733.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Michael G. Goss sold 2,354 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $72.80, for a total transaction of $171,371.20. Following the transaction, the insider now owns 15,587 shares in the company, valued at $1,134,733.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael G. Goss sold 1,339 shares of DuPont de Nemours stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $78.33, for a total transaction of $104,883.87. Following the completion of the sale, the insider now directly owns 14,012 shares of the company’s stock, valued at approximately $1,097,559.96. The disclosure for this sale can be found here. Insiders have sold 22,193 shares of company stock worth $1,726,655 in the last 90 days. 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.