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 volatility in currency as well as energy and raw material costs, which can have signicant impact on results.”
A number of other equities research analysts also recently weighed in on the company. Nomura assumed coverage on DuPont in a research report on Tuesday, October 18th. They set a buy rating and a $78.00 price objective on the stock. Citigroup Inc. raised DuPont from a neutral rating to a buy rating and raised their price objective for the company from $72.00 to $76.00 in a research report on Monday, October 3rd. Barclays PLC raised their price objective on DuPont from $67.00 to $70.00 and gave the company an equal weight rating in a research report on Wednesday, July 27th. Finally, Deutsche Bank AG raised their price objective on DuPont from $55.00 to $56.00 and gave the company a sell rating in a research report on Friday, August 12th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. DuPont presently has a consensus rating of Hold and an average price target of $71.33.
Shares of DuPont (NYSE:DD) opened at 71.20 on Thursday. DuPont has a one year low of $50.71 and a one year high of $75.72. The stock’s 50 day moving average is $69.39 and its 200-day moving average is $67.98. The company has a market cap of $61.90 billion, a PE ratio of 31.50 and a beta of 1.71.
DuPont (NYSE:DD) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.21 by $0.13. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.86 billion. DuPont had a return on equity of 27.16% and a net margin of 8.08%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 earnings per share. Equities research analysts expect that DuPont will post $3.26 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Tuesday, November 15th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, November 10th. DuPont’s dividend payout ratio is currently 67.26%.
A number of hedge funds and other institutional investors have recently made changes to their positions in DD. Endurance Wealth Management Inc. boosted its position in shares of DuPont by 3,600.0% in the third quarter. Endurance Wealth Management Inc. now owns 1,480 shares of the company’s stock valued at $102,000 after buying an additional 1,440 shares in the last quarter. Timber Creek Capital Management LLC boosted its position in shares of DuPont by 200.0% in the third quarter. Timber Creek Capital Management LLC now owns 1,650 shares of the company’s stock valued at $110,000 after buying an additional 1,100 shares in the last quarter. Enterprise Financial Services Corp boosted its position in shares of DuPont by 4.6% in the third quarter. Enterprise Financial Services Corp now owns 1,731 shares of the company’s stock valued at $116,000 after buying an additional 76 shares in the last quarter. Pinkerton Retirement Specialists LLC boosted its position in shares of DuPont by 5,435.3% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,882 shares of the company’s stock valued at $122,000 after buying an additional 1,848 shares in the last quarter. Finally, Integrated Investment Consultants LLC boosted its position in shares of DuPont by 10.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,050 shares of the company’s stock valued at $133,000 after buying an additional 191 shares in the last quarter. Institutional investors own 69.57% of the company’s stock.
DuPont Company Profile
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.
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