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 Price Performance

Shares of DD opened at $78.43 on Wednesday. DuPont de Nemours has a 12-month low of $61.14 and a 12-month high of $79.19. The business has a 50-day simple moving average of $73.43 and a two-hundred day simple moving average of $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. The stock has a market cap of $32.79 billion, a PE ratio of 77.96, a PEG ratio of 2.42 and a beta of 1.40.

DuPont de Nemours (NYSE:DD) last issued its earnings results on Tuesday, February 6th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. DuPont de Nemours had a return on equity of 6.12% and a net margin of 3.51%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts anticipate that DuPont de Nemours will post 3.49 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

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

Wall Street Analysts Forecast Growth

DD has been the topic of several research analyst reports. 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 research report on Thursday, April 11th. Wolfe Research started coverage on DuPont de Nemours in a research note on Friday, March 1st. They set a peer perform rating on the stock. Royal Bank of Canada upped their price target on DuPont de Nemours from $75.00 to $83.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Bank of America downgraded DuPont de Nemours from a buy rating to an underperform rating and upped their price target for the stock from $78.00 to $80.00 in a research note on Tuesday, January 16th. Finally, Barclays lowered their price objective on DuPont de Nemours from $74.00 to $70.00 and set an equal weight rating for the company in a research note on Monday, February 12th. 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. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $77.90.

Insider Buying and Selling at DuPont de Nemours

In other news, insider Michael G. Goss sold 2,354 shares of the firm’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 completion of the transaction, 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 through this hyperlink. 0.56% of the stock is owned by corporate 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.