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 $3.44. 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 Down 0.1 %

Shares of DD stock traded down $0.08 on Friday, hitting $77.67. The stock had a trading volume of 2,391,431 shares, compared to its average volume of 2,373,408. The firm has a market capitalization of $32.47 billion, a price-to-earnings ratio of 94.77, a P/E/G ratio of 2.48 and a beta of 1.39. The stock’s 50 day moving average is $73.93 and its 200-day moving average is $72.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.73 and a current ratio of 2.33. DuPont de Nemours has a 52-week low of $61.14 and a 52-week high of $79.19.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.14. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.81 billion. DuPont de Nemours had a net margin of 2.75% and a return on equity of 6.07%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. As a group, research analysts expect that DuPont de Nemours will post 3.59 earnings per share for the current year.

DuPont de Nemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a $0.38 dividend. The ex-dividend date is Thursday, May 30th. This represents a $1.52 annualized dividend and a yield of 1.96%. DuPont de Nemours’s dividend payout ratio is presently 185.37%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DD shares. Citigroup upped their price target on shares of DuPont de Nemours from $73.00 to $80.00 and gave the company a neutral rating in a report on Wednesday, April 10th. TheStreet cut shares of DuPont de Nemours from a b- rating to a c rating in a report on Tuesday, February 6th. Mizuho upped their price target on shares of DuPont de Nemours from $76.00 to $83.00 and gave the company a buy rating in a report on Thursday. Barclays increased their target price on shares of DuPont de Nemours from $70.00 to $81.00 and gave the stock an equal weight rating in a report on Thursday. Finally, Royal Bank of Canada increased their target price on shares of DuPont de Nemours from $75.00 to $83.00 and gave the stock an outperform rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, DuPont de Nemours presently has an average rating of Hold and a consensus price target of $80.00.

Insider Buying and Selling

In related 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 transaction, the insider now owns 15,587 shares in the company, valued at $1,134,733.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

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.