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 EPS guidance of $3.45-3.75 for the period, compared to the consensus EPS estimate of $3.44. The company issued revenue guidance of $12.1-12.4 billion, compared to the consensus revenue estimate of $12.13 billion. DuPont de Nemours also updated its FY 2024 guidance to 3.450-3.750 EPS.

DuPont de Nemours Stock Up 8.2 %

Shares of NYSE:DD opened at $78.43 on Wednesday. The company has a market cap of $32.79 billion, a price-to-earnings ratio of 77.96, a PEG ratio of 2.42 and a beta of 1.40. The firm’s 50-day simple moving average is $73.43 and its 200-day simple moving average is $72.02. The company has a quick ratio of 1.73, a current ratio of 2.43 and a debt-to-equity ratio of 0.32. DuPont de Nemours has a fifty-two week low of $61.14 and a fifty-two week high of $79.19.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings data on Tuesday, February 6th. The basic materials company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. DuPont de Nemours had a net margin of 3.51% and a return on equity of 6.12%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the business earned $0.89 earnings per share. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities research analysts predict that DuPont de Nemours will post 3.49 earnings per share for the current year.

DuPont de Nemours Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, May 30th. DuPont de Nemours’s dividend payout ratio (DPR) is 163.44%.

Analyst Ratings Changes

A number of equities analysts have issued reports on DD shares. TheStreet cut shares of DuPont de Nemours from a b- rating to a c rating in a research report on Tuesday, February 6th. Wells Fargo & Company lifted their target price on shares of 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. JPMorgan Chase & Co. lifted their target price on shares of DuPont de Nemours from $76.00 to $85.00 and gave the stock an overweight rating in a research report on Friday, March 22nd. Bank of America cut shares of DuPont de Nemours from a buy rating to an underperform rating and lifted their target price for the stock from $78.00 to $80.00 in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada lifted their target price 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. 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.com, the stock has an average rating of Hold and a consensus price target of $77.90.

Insiders Place Their Bets

In related news, insider Michael G. Goss sold 2,354 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were 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. 0.56% of the stock is owned by insiders.

About DuPont de Nemours

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.