Royal Bank of Canada Forecasts Strong Price Appreciation for DuPont de Nemours (NYSE:DD) Stock

DuPont de Nemours (NYSE:DD) had its price target raised by Royal Bank of Canada from $102.00 to $104.00 in a research report report published on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the basic materials company’s stock.

A number of other brokerages also recently commented on DD. Citigroup lowered their price target on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of DuPont de Nemours from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays upped their target price on shares of DuPont de Nemours from $84.00 to $85.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price target on DuPont de Nemours from $105.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley upped their target price on DuPont de Nemours from $88.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, DuPont de Nemours has a consensus rating of “Moderate Buy” and a consensus price target of $95.42.

DuPont de Nemours Stock Performance

Shares of DD opened at $84.22 on Thursday. The business has a 50-day simple moving average of $84.31 and a two-hundred day simple moving average of $81.33. The company has a quick ratio of 1.44, a current ratio of 2.28 and a debt-to-equity ratio of 0.29. DuPont de Nemours has a 52 week low of $61.14 and a 52 week high of $90.06. The stock has a market cap of $35.20 billion, a price-to-earnings ratio of 44.41, a PEG ratio of 2.01 and a beta of 1.35.

DuPont de Nemours (NYSE:DD) last released its earnings results on Tuesday, November 5th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.15. DuPont de Nemours had a net margin of 6.35% and a return on equity of 6.64%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the firm posted $0.92 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts expect that DuPont de Nemours will post 3.91 EPS for the current year.

DuPont de Nemours Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Friday, November 29th. DuPont de Nemours’s dividend payout ratio (DPR) is presently 80.00%.

Hedge Funds Weigh In On DuPont de Nemours

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC raised its holdings in shares of DuPont de Nemours by 46.6% during the second quarter. Fortitude Family Office LLC now owns 412 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 131 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of DuPont de Nemours by 3.3% during the 2nd quarter. Crestwood Advisors Group LLC now owns 4,120 shares of the basic materials company’s stock worth $332,000 after acquiring an additional 132 shares in the last quarter. Moody National Bank Trust Division increased its stake in shares of DuPont de Nemours by 0.6% in the 2nd quarter. Moody National Bank Trust Division now owns 21,510 shares of the basic materials company’s stock valued at $1,731,000 after purchasing an additional 134 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in DuPont de Nemours by 3.7% during the second quarter. Aaron Wealth Advisors LLC now owns 3,875 shares of the basic materials company’s stock worth $312,000 after purchasing an additional 137 shares in the last quarter. Finally, Focus Financial Network Inc. increased its position in shares of DuPont de Nemours by 3.7% in the third quarter. Focus Financial Network Inc. now owns 3,973 shares of the basic materials company’s stock valued at $354,000 after buying an additional 143 shares in the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

DuPont de Nemours Company Profile

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.