DuPont Co. (NYSE:DD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
A number of other research firms have also recently commented on DD. Citigroup Inc. raised DuPont from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $72.00 to $76.00 in a report on Monday, October 3rd. Deutsche Bank AG boosted their price target on DuPont from $55.00 to $56.00 and gave the stock a “sell” rating in a report on Friday, August 12th. Finally, Nomura initiated coverage on DuPont in a report on Tuesday, October 18th. They set a “buy” rating and a $78.00 price target for the company. 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 stock. The stock currently has an average rating of “Hold” and a consensus target price of $71.33.
DuPont (NYSE:DD) opened at 73.62 on Wednesday. The company has a 50-day moving average price of $69.71 and a 200 day moving average price of $68.08. The company has a market cap of $64.00 billion, a PE ratio of 32.58 and a beta of 1.72. DuPont has a 12-month low of $50.71 and a 12-month high of $75.72.
DuPont (NYSE:DD) last released its earnings results on Tuesday, October 25th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.13. The firm earned $4.90 billion during the quarter, compared to the consensus estimate of $4.86 billion. DuPont had a return on equity of 27.16% and a net margin of 8.08%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. On average, analysts forecast that DuPont will post $3.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.52 annualized dividend and a yield of 2.06%. DuPont’s payout ratio is currently 67.26%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Endurance Wealth Management Inc. raised 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 during the last quarter. Timber Creek Capital Management LLC raised 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 during the last quarter. Enterprise Financial Services Corp raised 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 during the last quarter. Pinkerton Retirement Specialists LLC raised 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 during the last quarter. Finally, Integrated Investment Consultants LLC raised 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 during the last quarter. Institutional investors and hedge funds 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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