Q2 2023 Earnings Forecast for DuPont de Nemours, Inc. Issued By Zacks Research (NYSE:DD)

Posted by Defense World Staff on May 20th, 2023

DuPont de Nemours, Inc. (NYSE:DD – Get Rating) – Equities research analysts at Zacks Research lowered their Q2 2023 EPS estimates for DuPont de Nemours in a report released on Tuesday, May 16th. Zacks Research analyst A. Barman now expects that the basic materials company will post earnings of $0.84 per share for the quarter, down from their prior forecast of $0.88. The consensus estimate for DuPont de Nemours’ current full-year earnings is $3.65 per share. Zacks Research also issued estimates for DuPont de Nemours’ Q3 2023 earnings at $0.96 EPS, Q4 2023 earnings at $0.91 EPS, Q3 2024 earnings at $0.97 EPS, Q4 2024 earnings at $0.99 EPS, FY2024 earnings at $3.74 EPS and FY2025 earnings at $4.56 EPS.

Other analysts have also issued reports about the stock. Citigroup upped their target price on shares of DuPont de Nemours from $82.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Royal Bank of Canada dropped their price objective on DuPont de Nemours from $92.00 to $81.00 in a research report on Thursday, May 4th. TheStreet upgraded DuPont de Nemours from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Deutsche Bank Aktiengesellschaft raised DuPont de Nemours from a “hold” rating to a “buy” rating and raised their price target for the stock from $70.00 to $80.00 in a research note on Monday, May 15th. Finally, Barclays reduced their price objective on DuPont de Nemours from $76.00 to $72.00 in a research note on Wednesday, May 3rd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.36.

DuPont de Nemours Trading Down 0.2 %

Shares of DD stock opened at $66.75 on Friday. The company’s 50-day moving average price is $68.44 and its 200-day moving average price is $70.25. The company has a current ratio of 3.29, a quick ratio of 2.57 and a debt-to-equity ratio of 0.29. The stock has a market cap of $30.64 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 2.32 and a beta of 1.40. DuPont de Nemours has a twelve month low of $49.52 and a twelve month high of $78.40.

DuPont de Nemours (NYSE:DD – Get Rating) last released its earnings results on Tuesday, May 2nd. The basic materials company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.94 billion. DuPont de Nemours had a net margin of 43.63% and a return on equity of 6.34%. DuPont de Nemours’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the business earned $0.82 EPS.

Institutional Investors Weigh In On DuPont de Nemours

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allstate Corp grew its stake in DuPont de Nemours by 0.8% in the third quarter. Allstate Corp now owns 18,087 shares of the basic materials company’s stock valued at $912,000 after acquiring an additional 151 shares during the period. Fayez Sarofim & Co boosted its position in shares of DuPont de Nemours by 0.7% during the fourth quarter. Fayez Sarofim & Co now owns 23,363 shares of the basic materials company’s stock worth $1,603,000 after buying an additional 152 shares during the period. Zions Bancorporation N.A. raised its holdings in DuPont de Nemours by 10.8% during the third quarter. Zions Bancorporation N.A. now owns 1,577 shares of the basic materials company’s stock worth $79,000 after acquiring an additional 154 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in DuPont de Nemours by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,407 shares of the basic materials company’s stock worth $2,636,000 after acquiring an additional 156 shares in the last quarter. Finally, Raymond James Trust N.A. raised its holdings in DuPont de Nemours by 0.8% during the first quarter. Raymond James Trust N.A. now owns 19,653 shares of the basic materials company’s stock worth $1,411,000 after acquiring an additional 159 shares in the last quarter. 71.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DuPont de Nemours

In other DuPont de Nemours news, insider Michael G. Goss sold 2,374 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $65.46, for a total value of $155,402.04. Following the completion of the sale, the insider now owns 13,345 shares in the company, valued at approximately $873,563.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

DuPont de Nemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a dividend of $0.36 per share. The ex-dividend date is Tuesday, May 30th. This represents a $1.44 annualized dividend and a dividend yield of 2.16%. DuPont de Nemours’s dividend payout ratio (DPR) is presently 12.49%.

DuPont de Nemours Company Profile

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DuPont de Nemours, Inc operates as a holding company engaged in the development of specialty materials, chemicals, and agricultural products. It operates through the following segments: Electronics & Industrial, Water & Protection, and Corporate & Others. The Electronics & Industrial segment supplies differentiated materials and systems for a broad range of consumer electronics including mobile devices, television monitors, personal computers and electronics used in a variety of industries.