Zacks Investment Research upgraded shares of DuPont Co. (NYSE:DD) from a hold rating to a buy rating in a research report released on Wednesday. Zacks Investment Research currently has $79.00 price target on the stock.
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.”
Several other equities research analysts have also commented on DD. Vetr upgraded DuPont from a strong sell rating to a sell rating and set a $64.60 price objective on the stock in a research report on Tuesday, July 26th. Barclays PLC increased their target price on DuPont from $67.00 to $70.00 and gave the company an equal weight rating in a research report on Wednesday, July 27th. TheStreet lowered DuPont from a buy rating to a hold rating in a research report on Tuesday, July 26th. Deutsche Bank AG increased their target price on DuPont from $55.00 to $56.00 and gave the company a sell rating in a research report on Friday, August 12th. Finally, Citigroup Inc. upgraded DuPont from a neutral rating to a buy rating and increased their target price for the company from $72.00 to $76.00 in a research report on Monday, October 3rd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. DuPont currently has a consensus rating of Hold and an average price target of $71.33.
DuPont (NYSE:DD) opened at 71.00 on Wednesday. The stock has a market cap of $61.72 billion, a P/E ratio of 31.42 and a beta of 1.71. DuPont has a 12-month low of $50.71 and a 12-month high of $75.72. The company has a 50 day moving average of $69.30 and a 200-day moving average of $67.85.
DuPont (NYSE:DD) last released its quarterly earnings data on Tuesday, October 25th. The company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.13. DuPont had a return on equity of 27.16% and a net margin of 8.08%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the prior year, the firm posted $0.13 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts forecast that DuPont will post $3.26 earnings per share for the current year.
The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, November 10th. DuPont’s payout ratio is 67.26%.
Hedge funds have recently modified their holdings of the company. Mizuho Trust & Banking Co. Ltd. boosted its position in shares of 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 position in shares of 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. purchased a new position in shares of DuPont during the second quarter worth approximately $473,000. Private Advisor Group LLC boosted its position in shares of 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 position in shares of 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 hedge funds and other 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.