Jefferies Cuts Estimates on DuPont (DD)
Jefferies analysts cut the earnings estimates on E. I. du Pont de Nemours and Company (DD) early on Tuesday, as the chemical company continues to face headwinds in the first half of 2013.
The analysts maintain a “Hold” rating on DuPont with a price target of $52. The target suggests a 6% upside to Monday’s closing price of $49.11.
According to Jefferies, the company is now expected to earn $3.85 per share in 2013, down from the previous estimate of $3.90 per share. For 2014, the company is expected to earn $4.55 per share, down from the previous view of $4.60 per share.
DuPont shares were down 16 cents, or -0.33%, during pre-market trading on Tuesday. The stock is down -6.69% over the past year.
The Bottom Line
Shares of DuPont (DD) have a dividend yield of 3.50% based on last night’s closing price of $49.11 and the company’s annualized dividend payout of $1.72 per share.
DuPont (DD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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