DuPont de Nemours (NYSE:DD) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research lowered shares of DuPont de Nemours (NYSE:DDGet Rating) from a hold rating to a strong sell rating in a research report report published on Monday, Zacks.com reports. They currently have $59.00 target price on the basic materials company’s stock.

According to Zacks, “Earnings estimates for DuPont for the first quarter of 2022 have been going down over the past month. The company faces headwinds from raw material and logistics cost inflation. It is seeing supply constraints of key raw materials globally, mainly in its nylon and polyester product lines. Raw materials cost inflation is expected to continue to affect the company’s margins in the first quarter. Weaker automotive production due to the chip shortage is also affecting the company’s volumes. The semiconductor shortage is still hurting automotive builds around the world. DuPont’s Mobility & Materials unit is expected to face volume pressure in the first quarter. DuPont is also exposed to weakness in its Interconnect Solutions business. Organic sales in this business are being partly affected by the supply-chain constraints.”

Several other equities analysts have also commented on DD. Morgan Stanley dropped their price target on shares of DuPont de Nemours from $98.00 to $93.00 and set an equal weight rating for the company in a research report on Tuesday, January 11th. Deutsche Bank Aktiengesellschaft cut their target price on DuPont de Nemours from $100.00 to $90.00 and set a buy rating on the stock in a research report on Friday, March 18th. StockNews.com assumed coverage on DuPont de Nemours in a report on Thursday, March 31st. They issued a hold rating on the stock. Credit Suisse Group upped their price target on DuPont de Nemours from $95.00 to $100.00 and gave the stock an outperform rating in a research note on Wednesday, February 9th. Finally, KeyCorp reduced their price objective on DuPont de Nemours from $99.00 to $96.00 and set an overweight rating on the stock in a research note on Tuesday, April 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, DuPont de Nemours presently has a consensus rating of Buy and a consensus price target of $93.41.

DD stock opened at $68.97 on Monday. The stock has a market capitalization of $35.07 billion, a price-to-earnings ratio of 6.30, a price-to-earnings-growth ratio of 2.19 and a beta of 1.42. The company has a quick ratio of 1.22, a current ratio of 1.89 and a debt-to-equity ratio of 0.39. DuPont de Nemours has a 52-week low of $66.37 and a 52-week high of $86.28. The stock’s fifty day simple moving average is $75.36 and its 200-day simple moving average is $76.27.

DuPont de Nemours (NYSE:DDGet Rating) last issued its quarterly earnings results on Tuesday, February 8th. The basic materials company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.07. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.02 billion. DuPont de Nemours had a return on equity of 8.29% and a net margin of 38.83%. The firm’s quarterly revenue was down 17.8% on a year-over-year basis. During the same period last year, the company earned $0.95 EPS. As a group, analysts anticipate that DuPont de Nemours will post 3.38 earnings per share for the current fiscal year.

DuPont de Nemours announced that its board has authorized a stock repurchase program on Tuesday, February 8th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the basic materials company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Monday, February 28th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.91%. This is a positive change from DuPont de Nemours’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, February 25th. DuPont de Nemours’s payout ratio is presently 12.07%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. CAPROCK Group Inc. grew its stake in shares of DuPont de Nemours by 4.1% in the first quarter. CAPROCK Group Inc. now owns 9,539 shares of the basic materials company’s stock worth $702,000 after purchasing an additional 375 shares in the last quarter. Brookstone Capital Management increased its stake in DuPont de Nemours by 46.6% during the 1st quarter. Brookstone Capital Management now owns 17,123 shares of the basic materials company’s stock valued at $1,173,000 after buying an additional 5,440 shares during the period. CHICAGO TRUST Co NA raised its position in shares of DuPont de Nemours by 9.2% during the 1st quarter. CHICAGO TRUST Co NA now owns 21,540 shares of the basic materials company’s stock worth $1,585,000 after buying an additional 1,820 shares in the last quarter. Roberts Wealth Advisors LLC lifted its stake in shares of DuPont de Nemours by 1.3% in the 1st quarter. Roberts Wealth Advisors LLC now owns 33,367 shares of the basic materials company’s stock worth $2,494,000 after acquiring an additional 428 shares during the period. Finally, Carnegie Capital Asset Management LLC boosted its holdings in shares of DuPont de Nemours by 17.1% in the first quarter. Carnegie Capital Asset Management LLC now owns 10,889 shares of the basic materials company’s stock valued at $801,000 after acquiring an additional 1,592 shares in the last quarter. Hedge funds and other institutional investors own 69.32% of the company’s stock.

DuPont de Nemours Company Profile (Get Rating)

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 three segments: Electronics & Industrial, Mobility & Materials, and Water & Protection. The Electronics & Industrial segment supplies materials and printing systems to the advanced printing industry; and materials and solutions for the fabrication of semiconductors and integrated circuits addressing front-end and back-end of the manufacturing process.

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