DuPont de Nemours (NYSE:DD) Releases 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 (EPS) guidance of $3.45-3.75 for the period, compared to the consensus 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 Performance

Shares of DD traded down $0.08 on Friday, reaching $77.67. The company’s stock had a trading volume of 2,391,431 shares, compared to its average volume of 2,373,408. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.33 and a quick ratio of 1.73. The stock has a market capitalization of $32.47 billion, a P/E ratio of 94.77, a PEG ratio of 2.48 and a beta of 1.39. The stock’s 50 day simple moving average is $73.93 and its two-hundred day simple moving average is $72.12. DuPont de Nemours has a 12-month low of $61.14 and a 12-month high of $79.19.

DuPont de Nemours (NYSE:DD) last released its earnings results on Wednesday, May 1st. The basic materials company reported $0.79 EPS 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 business earned $0.84 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. Research analysts forecast that DuPont de Nemours will post 3.59 earnings per share for the current fiscal year.

DuPont de Nemours Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Thursday, May 30th. DuPont de Nemours’s payout ratio is 185.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DD shares. Bank of America cut shares of DuPont de Nemours from a buy rating to an underperform rating and lifted their price objective for the company from $78.00 to $80.00 in a research report on Tuesday, January 16th. Mizuho lifted their price objective on shares of DuPont de Nemours from $76.00 to $83.00 and gave the stock a buy rating in a research note on Thursday. Wells Fargo & Company boosted their target price on shares of DuPont de Nemours from $69.00 to $80.00 and gave the company an equal weight rating in a research note on Thursday, April 11th. StockNews.com raised shares of DuPont de Nemours from a sell rating to a hold rating in a research note on Wednesday, February 14th. Finally, Wolfe Research began coverage on shares of DuPont de Nemours in a research note on Friday, March 1st. They issued a peer perform rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $80.00.

Insiders Place Their Bets

In other news, insider Michael G. Goss sold 2,354 shares of the firm’s 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 sale, the insider now owns 15,587 shares of the company’s stock, valued at approximately $1,134,733.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by 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.