DowDuPont Inc (DWDP) Posts Quarterly Earnings Results, Hits Expectations
DowDuPont Inc (NASDAQ:DWDP) released its quarterly earnings data on Thursday. The company reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55, Bloomberg Earnings reports. The firm had revenue of $18.29 billion during the quarter, compared to the consensus estimate of $18.24 billion. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of Infinity. The ex-dividend date of this dividend is Tuesday, November 14th.
DWDP has been the subject of several recent research reports. Macquarie initiated coverage on DowDuPont in a report on Tuesday, September 5th. They issued an “outperform” rating and a $76.00 price objective for the company. Bank of America Corporation initiated coverage on DowDuPont in a report on Monday, September 11th. They issued a “buy” rating and a $78.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and issued a $80.00 price objective on shares of DowDuPont in a report on Sunday, October 8th. Susquehanna Bancshares Inc began coverage on DowDuPont in a research note on Tuesday, September 5th. They issued a “positive” rating and a $80.00 target price on the stock. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $79.00 target price (up previously from $73.00) on shares of DowDuPont in a research note on Thursday, October 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $79.76.
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DowDuPont Inc is a holding company formed through the merger of equals between The Dow Chemical Company and E. I. du Pont de Nemours and Company (DuPont). The Company’s business divisions include Agriculture division, Material Science division, and a Specialty Products division. The Agriculture Division offers a complete portfolio of products and technologies, and a pipeline of germplasm, traits and crop protection.
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