DuPont de Nemours (NYSE:DD) Issues FY24 Earnings Guidance

DuPont de Nemours (NYSE:DD) updated its FY24 earnings guidance on Wednesday. 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 Stock Down 1.2 %

Shares of DD traded down $0.97 during mid-day trading on Wednesday, reaching $78.55. The company’s stock had a trading volume of 1,810,576 shares, compared to its average volume of 2,885,350. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.33 and a quick ratio of 1.61. DuPont de Nemours has a 12-month low of $61.14 and a 12-month high of $80.41. The stock has a market cap of $32.84 billion, a PE ratio of 96.98, a price-to-earnings-growth ratio of 2.30 and a beta of 1.39. The company’s 50 day moving average is $75.97 and its 200 day moving average is $72.70.

DuPont de Nemours (NYSE:DD) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter last year, the company earned $0.84 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities analysts anticipate that DuPont de Nemours will post 3.64 EPS for the current fiscal year.

DuPont de Nemours Dividend Announcement

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

Analysts Set New Price Targets

DD has been the topic of several research analyst reports. Wolfe Research began coverage on DuPont de Nemours in a research report on Friday, March 1st. They set a peer perform rating on the stock. Royal Bank of Canada raised their price objective on shares of DuPont de Nemours from $75.00 to $83.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Mizuho upped their target price on shares of DuPont de Nemours from $76.00 to $83.00 and gave the company a buy rating in a report on Thursday, May 2nd. BMO Capital Markets cut DuPont de Nemours from an outperform rating to a market perform rating and dropped their price target for the company from $80.00 to $72.00 in a research report on Wednesday, January 24th. Finally, Wells Fargo & Company increased their price objective on DuPont de Nemours from $69.00 to $80.00 and gave the stock an equal weight rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, DuPont de Nemours currently has an average rating of Hold and an average price target of $82.10.

Insider Buying and Selling

In related news, insider Leland Weaver sold 18,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 24,476 shares of the company’s stock, valued at $1,918,918.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other DuPont de Nemours 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 transaction of $104,883.87. Following the transaction, the insider now owns 14,012 shares of the company’s stock, valued at $1,097,559.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Leland Weaver sold 18,500 shares of the business’s stock in a transaction on 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 directly owns 24,476 shares of the company’s stock, valued at $1,918,918.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,193 shares of company stock worth $1,726,655. 0.56% of the stock is owned by corporate insiders.

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.