KeyCorp Comments on DuPont de Nemours, Inc.’s Q3 2024 Earnings (NYSE:DD)

DuPont de Nemours, Inc. (NYSE:DD) – Investment analysts at KeyCorp issued their Q3 2024 EPS estimates for shares of DuPont de Nemours in a research note issued on Sunday, October 6th. KeyCorp analyst A. Yefremov expects that the basic materials company will earn $1.05 per share for the quarter. The consensus estimate for DuPont de Nemours’ current full-year earnings is $3.74 per share. KeyCorp also issued estimates for DuPont de Nemours’ Q4 2024 earnings at $1.03 EPS, FY2024 earnings at $3.84 EPS and FY2025 earnings at $4.50 EPS.

DuPont de Nemours (NYSE:DD) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.85 by $0.12. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.05 billion. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS.

Several other equities analysts also recently commented on DD. Barclays downgraded shares of DuPont de Nemours from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $88.00 to $84.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft boosted their target price on DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Citigroup reduced their price target on DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Finally, Royal Bank of Canada boosted their price objective on DuPont de Nemours from $87.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.91.

DuPont de Nemours Price Performance

DD opened at $84.48 on Wednesday. The firm has a market cap of $35.32 billion, a price-to-earnings ratio of 103.02, a PEG ratio of 2.23 and a beta of 1.34. The company has a current ratio of 2.21, a quick ratio of 1.44 and a debt-to-equity ratio of 0.30. The stock’s 50-day moving average price is $82.34 and its 200 day moving average price is $79.82. DuPont de Nemours has a 12-month low of $61.14 and a 12-month high of $90.06.

Hedge Funds Weigh In On DuPont de Nemours

A number of hedge funds and other institutional investors have recently bought and sold shares of DD. Vanguard Group Inc. grew its holdings in shares of DuPont de Nemours by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 48,045,648 shares of the basic materials company’s stock worth $3,696,152,000 after acquiring an additional 3,168,740 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of DuPont de Nemours by 403.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,421,685 shares of the basic materials company’s stock valued at $109,001,000 after buying an additional 1,139,156 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of DuPont de Nemours in the second quarter valued at $83,540,000. Renaissance Technologies LLC purchased a new stake in shares of DuPont de Nemours in the 2nd quarter worth about $67,665,000. Finally, Ceredex Value Advisors LLC grew its stake in DuPont de Nemours by 95.0% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,165,164 shares of the basic materials company’s stock valued at $93,784,000 after acquiring an additional 567,732 shares during the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

About DuPont de Nemours

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 Electronics & Industrial, Water & Protection, and Corporate & Other segments. The Electronics & Industrial segment supplies materials and solutions for the fabrication of semiconductors and integrated circuits.