Jefferies Financial Group Comments on DuPont de Nemours, Inc.’s Q3 2022 Earnings (NYSE:DD)

DuPont de Nemours, Inc. (NYSE:DD – Get Rating) – Equities researchers at Jefferies Financial Group reduced their Q3 2022 earnings per share estimates for shares of DuPont de Nemours in a research note issued on Tuesday, August 2nd. Jefferies Financial Group analyst L. Alexander now expects that the basic materials company will earn $0.81 per share for the quarter, down from their prior forecast of $0.88. Jefferies Financial Group has a “Hold” rating and a $60.00 price objective on the stock. The consensus estimate for DuPont de Nemours’ current full-year earnings is $3.35 per share. Jefferies Financial Group also issued estimates for DuPont de Nemours’ FY2022 earnings at $3.35 EPS, FY2023 earnings at $3.65 EPS and FY2024 earnings at $3.85 EPS.

DuPont de Nemours (NYSE:DD – Get Rating) last released its earnings results on Tuesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.13. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.26 billion. DuPont de Nemours had a return on equity of 7.54% and a net margin of 12.35%. The company’s revenue was down 19.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 EPS.

DD has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft cut their target price on DuPont de Nemours from $80.00 to $70.00 in a research report on Wednesday. Bank of America dropped their price objective on DuPont de Nemours from $77.00 to $73.00 in a research report on Wednesday, July 13th. Mizuho dropped their price objective on DuPont de Nemours from $101.00 to $97.00 in a research report on Wednesday, May 4th. Wells Fargo & Company dropped their price objective on DuPont de Nemours from $83.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Finally, Barclays dropped their price objective on DuPont de Nemours from $78.00 to $64.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.40.

DuPont de Nemours Stock Performance

NYSE:DD opened at $58.88 on Thursday. The stock has a fifty day moving average price of $59.28 and a 200-day moving average price of $68.07. The company has a market cap of $29.94 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.87 and a beta of 1.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.38 and a current ratio of 2.55. DuPont de Nemours has a fifty-two week low of $52.56 and a fifty-two week high of $85.16.

DuPont de Nemours Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, July 29th will be paid a $0.33 dividend. The ex-dividend date is Thursday, July 28th. This represents a $1.32 annualized dividend and a dividend yield of 2.24%. DuPont de Nemours’s payout ratio is 36.26%.

Institutional Investors Weigh In On DuPont de Nemours

Institutional investors and hedge funds have recently made changes to their positions in the stock. Masso Torrence Wealth Management Inc. acquired a new stake in shares of DuPont de Nemours in the fourth quarter valued at about $25,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in DuPont de Nemours during the fourth quarter worth approximately $26,000. FSB Premier Wealth Management Inc. acquired a new stake in DuPont de Nemours during the fourth quarter worth approximately $26,000. Bivin & Associates Inc. acquired a new stake in DuPont de Nemours during the fourth quarter worth approximately $28,000. Finally, Evoke Wealth LLC grew its stake in DuPont de Nemours by 203.4% during the fourth quarter. Evoke Wealth LLC now owns 355 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 238 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

About DuPont de Nemours

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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.