DuPont de Nemours (NYSE:DD) Shares Gap Up on Earnings Beat
by Renee Jackson · The Cerbat GemDuPont de Nemours, Inc. (NYSE:DD – Get Free Report) shares gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $141.30, but opened at $149.95. DuPont de Nemours shares last traded at $147.1350, with a volume of 288,391 shares traded.
The basic materials company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.87 by $0.22. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.84 billion. DuPont de Nemours had a return on equity of 6.92% and a net margin of 0.67%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 EPS.
DuPont de Nemours Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 30th. DuPont de Nemours’s dividend payout ratio (DPR) is 533.33%.
Wall Street Analysts Forecast Growth
DD has been the subject of a number of analyst reports. Zacks Research downgraded shares of DuPont de Nemours from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Citigroup lowered their target price on shares of DuPont de Nemours from $170.00 to $162.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Barclays started coverage on shares of DuPont de Nemours in a research report on Tuesday, October 13th. They issued an “overweight” rating and a $156.00 price target for the company. Royal Bank Of Canada cut their price target on shares of DuPont de Nemours from $176.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, October 15th. Finally, JPMorgan Chase & Co. downgraded DuPont de Nemours from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $172.00 to $145.00 in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.
View Our Latest Analysis on DD
Hedge Funds Weigh In On DuPont de Nemours
Several institutional investors have recently added to or reduced their stakes in DD. Alps Advisors Inc. lifted its holdings in shares of DuPont de Nemours by 3.4% during the 3rd quarter. Alps Advisors Inc. now owns 8,275 shares of the basic materials company’s stock valued at $1,075,000 after purchasing an additional 270 shares in the last quarter. Calamos Advisors LLC grew its position in shares of DuPont de Nemours by 2.1% in the 3rd quarter. Calamos Advisors LLC now owns 48,837 shares of the basic materials company’s stock valued at $6,343,000 after purchasing an additional 988 shares during the period. Jmac Enterprises LLC bought a new stake in DuPont de Nemours during the 3rd quarter worth approximately $559,000. Caldwell Trust Co increased its stake in DuPont de Nemours by 6.4% during the 3rd quarter. Caldwell Trust Co now owns 15,379 shares of the basic materials company’s stock worth $1,998,000 after purchasing an additional 924 shares in the last quarter. Finally, Rakuten Investment Management Inc. increased its stake in DuPont de Nemours by 8.5% during the 3rd quarter. Rakuten Investment Management Inc. now owns 24,237 shares of the basic materials company’s stock worth $3,154,000 after purchasing an additional 1,890 shares in the last quarter. 73.96% of the stock is owned by institutional investors.
DuPont de Nemours Stock Up 4.3%
The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.82 and a current ratio of 2.43. The stock has a market capitalization of $19.91 billion, a price-to-earnings ratio of 327.62, a P/E/G ratio of 1.28 and a beta of 1.05. The firm’s fifty day simple moving average is $132.31 and its 200 day simple moving average is $138.39.
About DuPont de Nemours
DuPont de Nemours, Inc is a diversified science and technology company that develops engineered materials and specialty products for industrial and consumer markets. Its offerings are used in applications including electronics, semiconductor manufacturing, water purification, transportation, construction, healthcare, and worker and consumer protection.
The company’s product portfolio has historically included high-performance films, resins, adhesives, engineered polymers, specialty fibers, protective materials, water-treatment membranes, and filtration technologies.