DuPont de Nemours, Inc. Expected to Earn FY2023 Earnings of $3.46 Per Share (NYSE:DD)

DuPont de Nemours, Inc. (NYSE:DD) – Research analysts at KeyCorp lowered their FY2023 earnings estimates for shares of DuPont de Nemours in a report released on Wednesday, November 1st. KeyCorp analyst A. Yefremov now anticipates that the basic materials company will post earnings of $3.46 per share for the year, down from their prior estimate of $3.47. The consensus estimate for DuPont de Nemours’ current full-year earnings is $3.45 per share. KeyCorp also issued estimates for DuPont de Nemours’ Q4 2023 earnings at $0.83 EPS, Q1 2024 earnings at $0.91 EPS, Q2 2024 earnings at $1.05 EPS, Q3 2024 earnings at $1.12 EPS, Q4 2024 earnings at $1.12 EPS and FY2024 earnings at $4.20 EPS.

DuPont de Nemours (NYSE:DD) last announced its earnings results on Wednesday, November 1st. The basic materials company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. DuPont de Nemours had a net margin of 37.49% and a return on equity of 6.18%. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the business posted $0.82 EPS. The company’s quarterly revenue was down 7.8% on a year-over-year basis.

A number of other brokerages have also recently issued reports on DD. BMO Capital Markets dropped their price target on shares of DuPont de Nemours from $83.00 to $74.00 and set an “outperform” rating on the stock in a research note on Friday. TheStreet cut shares of DuPont de Nemours from a “b-” rating to a “c+” rating in a research note on Monday, July 10th. Royal Bank of Canada dropped their price target on shares of DuPont de Nemours from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday. StockNews.com assumed coverage on shares of DuPont de Nemours in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Mizuho upped their target price on shares of DuPont de Nemours from $81.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.60.

DuPont de Nemours Stock Performance

Shares of DuPont de Nemours stock opened at $69.67 on Friday. The stock has a market cap of $31.98 billion, a price-to-earnings ratio of 7.20, a PEG ratio of 2.01 and a beta of 1.36. The firm’s 50-day moving average is $74.18 and its 200 day moving average is $72.06. DuPont de Nemours has a 1 year low of $60.47 and a 1 year high of $78.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.15 and a quick ratio of 2.35.

DuPont de Nemours Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, November 29th. DuPont de Nemours’s payout ratio is currently 14.89%.

Insider Activity

In other news, SVP Raj Ratnakar sold 50,633 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $77.42, for a total transaction of $3,920,006.86. Following the completion of the sale, the senior vice president now owns 31,720 shares of the company’s stock, valued at approximately $2,455,762.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On DuPont de Nemours

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC increased its holdings in DuPont de Nemours by 0.9% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 15,345 shares of the basic materials company’s stock worth $1,114,000 after acquiring an additional 133 shares in the last quarter. Sawgrass Asset Management LLC boosted its stake in DuPont de Nemours by 3.1% in the 2nd quarter. Sawgrass Asset Management LLC now owns 4,618 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 141 shares during the period. Strategic Advisors LLC boosted its stake in DuPont de Nemours by 0.8% in the 2nd quarter. Strategic Advisors LLC now owns 18,634 shares of the basic materials company’s stock worth $1,331,000 after purchasing an additional 142 shares during the period. Dakota Wealth Management boosted its stake in DuPont de Nemours by 3.0% in the 2nd quarter. Dakota Wealth Management now owns 4,886 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 143 shares during the period. Finally, Ballast Inc. boosted its stake in DuPont de Nemours by 1.0% in the 3rd quarter. Ballast Inc. now owns 14,119 shares of the basic materials company’s stock worth $1,053,000 after purchasing an additional 143 shares during the period. 76.25% of the stock is owned by hedge funds and other institutional investors.

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 addressing various steps of the manufacturing process.