DuPont de Nemours (NYSE:DD) Releases Q3 2022 Earnings Guidance

DuPont de Nemours (NYSE:DDGet Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.81-$0.81 for the period, compared to the consensus earnings per share estimate of $1.10. The company issued revenue guidance of $3.17 billion-$3.37 billion, compared to the consensus revenue estimate of $4.17 billion. DuPont de Nemours also updated its FY 2022 guidance to $3.27-$3.43 EPS.

Analyst Ratings Changes

Several brokerages have issued reports on DD. Bank of America dropped their price objective on DuPont de Nemours from $77.00 to $73.00 in a report on Wednesday, July 13th. Wells Fargo & Company dropped their price objective on DuPont de Nemours from $83.00 to $72.00 and set an overweight rating on the stock in a report on Friday, July 8th. Credit Suisse Group dropped their price objective on DuPont de Nemours from $81.00 to $77.00 and set an outperform rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price objective on DuPont de Nemours from $80.00 to $70.00 in a report on Wednesday. Finally, KeyCorp lowered their price target on DuPont de Nemours from $96.00 to $82.00 and set an overweight rating on the stock in a report on Wednesday, July 20th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $80.40.

DuPont de Nemours Stock Performance

NYSE:DD traded up $0.31 during mid-day trading on Friday, reaching $58.88. The stock had a trading volume of 1,936,834 shares, compared to its average volume of 3,013,648. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.38 and a current ratio of 2.55. The firm has a market capitalization of $29.94 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.87 and a beta of 1.42. DuPont de Nemours has a twelve month low of $52.56 and a twelve month high of $85.16. The business has a 50 day simple moving average of $59.28 and a 200 day simple moving average of $68.07.

DuPont de Nemours (NYSE:DDGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The basic materials company reported $0.88 EPS 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 net margin of 12.35% and a return on equity of 7.54%. The firm’s revenue was down 19.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. On average, analysts expect that DuPont de Nemours will post 3.35 earnings per share for the current fiscal year.

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 given a dividend of $0.33 per share. The ex-dividend date is Thursday, July 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.24%. DuPont de Nemours’s payout ratio is 36.26%.

Institutional Investors Weigh In On DuPont de Nemours

A number of hedge funds and other institutional investors have recently modified their holdings of DD. Fairfield Bush & CO. acquired a new stake in shares of DuPont de Nemours during the 1st quarter valued at approximately $50,000. Covestor Ltd raised its position in shares of DuPont de Nemours by 31.2% during the 1st quarter. Covestor Ltd now owns 1,920 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 457 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of DuPont de Nemours during the 1st quarter worth approximately $195,000. Bridgefront Capital LLC acquired a new position in shares of DuPont de Nemours during the 1st quarter worth approximately $206,000. Finally, International Assets Investment Management LLC raised its position in shares of DuPont de Nemours by 21.8% during the 1st quarter. International Assets Investment Management LLC now owns 3,219 shares of the basic materials company’s stock worth $237,000 after purchasing an additional 577 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also

Earnings History and Estimates for DuPont de Nemours (NYSE:DD)

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