DuPont Co. (DD) Lowered to “Hold” at Zacks Investment Research
According to Zacks, “DuPont’s adjusted earnings for third-quarter 2016 topped the Zacks Consensus Estimate, aided by its cost management actions. Revenues rose modestly year over year and beat expectations. The company raised its adjusted earnings guidance for 2016. DuPont is well placed to gain from its aggressive cost-cutting actions and new product launches. The company is also moving forward with its planned mega-merger with Dow Chemical, which is expected to create significant synergies. Moreover, it remains committed to maximize shareholder value. However, DuPont continues to face challenges in the agriculture business. Additionally, the company is exposed to currency headwinds and volatility in energy and raw material costs, which can have signicant impact on results. DuPont is also seeing weakness in its electronics business. “
DD has been the subject of a number of other reports. Deutsche Bank AG upped their price target on DuPont from $55.00 to $56.00 and gave the company a sell rating in a research note on Friday, August 12th. Nomura began coverage on DuPont in a research note on Tuesday, October 18th. They issued a buy rating and a $78.00 price target for the company. Finally, Citigroup Inc. raised DuPont from a neutral rating to a buy rating and upped their price target for the company from $72.00 to $76.00 in a research note on Monday, October 3rd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. DuPont presently has an average rating of Hold and a consensus price target of $71.33.
Shares of DuPont (NYSE:DD) opened at 73.61 on Wednesday. The firm has a 50-day moving average of $69.37 and a 200-day moving average of $67.94. DuPont has a 1-year low of $50.71 and a 1-year high of $75.72. The firm has a market capitalization of $63.99 billion, a PE ratio of 32.57 and a beta of 1.71.
DuPont (NYSE:DD) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.13. The firm earned $4.90 billion during the quarter, compared to analysts’ expectations of $4.86 billion. DuPont had a return on equity of 27.16% and a net margin of 8.08%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. On average, equities research analysts anticipate that DuPont will post $3.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, November 10th. DuPont’s payout ratio is presently 67.26%.
Several large investors have recently added to or reduced their stakes in the stock. Mizuho Trust & Banking Co. Ltd. boosted its stake in DuPont by 0.3% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,613,298 shares of the company’s stock worth $104,542,000 after buying an additional 5,485 shares during the period. Smith Asset Management Group LP boosted its stake in DuPont by 21.1% in the second quarter. Smith Asset Management Group LP now owns 208,375 shares of the company’s stock worth $13,503,000 after buying an additional 36,270 shares during the period. Hallmark Capital Management Inc. acquired a new stake in DuPont during the second quarter worth $473,000. Private Advisor Group LLC boosted its stake in DuPont by 6.0% in the second quarter. Private Advisor Group LLC now owns 67,962 shares of the company’s stock worth $4,205,000 after buying an additional 3,854 shares during the period. Finally, TNB Financial boosted its stake in DuPont by 7.1% in the second quarter. TNB Financial now owns 5,635 shares of the company’s stock worth $365,000 after buying an additional 375 shares during the period. 69.57% of the stock is owned by institutional investors.
E. I. du Pont de Nemours and Company (DuPont) is a science and technology-based company. The Company consists of over 10 businesses aggregated into six segments: Agriculture, Electronics & Communications, Industrial Biosciences, Nutrition & Health, Performance Materials and Safety & Protection. Its products include corn hybrids and soybean varieties, herbicides, fungicides and insecticides in Agriculture segment; photopolymers and electronic materials in Electronics & Communications segment; enzymes and bio-based materials in Industrial Biosciences segment; cultures, emulsifiers, texturants, natural sweeteners and soy-based food ingredients in Nutrition & Health segment; engineering polymers, packaging and industrial polymers, films and elastomers in Performance Materials segment, and nonwovens, aramids and solid surfaces in Safety & Protection segment.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for DuPont Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DuPont Co. and related companies with MarketBeat.com's FREE daily email newsletter.