The DuPont De Nemours Inc. (NYSE: DD) stock reported a revenue of $9.73 Billion and an EPS of $3.90 for the quarter period ending June 2023, which was publicized on August 2nd, 2023.
The earnings and revenue exceeded the estimated figures by 2.22% and 2.23% respectively, showing a positive surprise.
Furthermore, the DD next quarter’s revenue and EPS are expected to be $3.155 billion and $0.843 respectively, and the report will be released on November 1st, 2023.
Besides, the DD stock’s dividend yield (TTM) is 1.91% and its last dividend payment was $0.36 per share. The DD last ex-dividend date was July 28, 2023, and its payout ratio is 14.24%.
The dividend payout ratio also suggests that DD has enough cash flow to reinvest in its business.
The dividend payments are covered by earnings and cash flows, which indicates a high dividend safety and sustainability. In addition, the DD stock’s annual graph shows that the profit margin has been moderate, indicating a healthy sign.
The next dividend payment for the stock is $0.36 per share. The ex-dividend date is November 29th, 2023, and the payment date is December 15th, 2023.
However, after a strong bullish run from March 2020 from the price of $28 to $87, the stock faced a lot of resistance at the high and had a sell-off due to profit booking. The DD price fell to form a support at $50 around September 2022.
As per price action, this support at $50 acted as a trigger point for DD, and from this point, it was in an upward trend from around September last year even before 2023 started.
The DD price found support intriguing as it seemed like it was available at a discount. From the low of $50 to the high of $78, the journey was zigzag, and upwards, the high was reached by July 2023.
However, if the upcoming earnings and dividends, attract more buyers which are side by side, this might trigger a huge rally surpassing all previous peaks and might continue to follow the trendline support and ascend upwards.
Furthermore, the 1-year price targets for the DD stock range from $73 to $92, according to 15 analysts.Moreover, the analysts are also bullish on the DD stock with 19 analysts rating it as a “buy” in the last three months’ evaluation.
Currently, DD stock is trading with an intraday volume of 2.6383 Million and the 10-day average trading volume of the stock is 2.411 Million. The market cap of the stock is $33.516 Billion, the price-to-earnings ratio of the company is 7.63 and the current market price (CMP) is $73.01.
DD stock is beneath the 20 and 50-day EMA, indicating a downward trend. However, the price is trading close to the 20 EMA which suggests a potential reversal as earnings are approaching.
If DD gets to attract more bullish accumulation, it might boost upward and break above the EMAs and turn them into support levels.
DD Stock Earnings & Dividends Are Near, What’s Next?
Summary
As per technical tools, If DD gets to attract more bullish accumulation, it might boost upward and break above the EMAs and turn them into support levels. Moreover, the analysts are also bullish on the DD stock with 19 analysts rating it as a “buy” in the last three months’ evaluation.
However, if the upcoming earnings and dividends, which are almost side by side on the charts, attract more buyers. This might trigger a huge rally surpassing all previous peaks and might continue to follow the trendline support and ascend upwards.
Technical Levels
Support Levels: $72 and $68
Resistance Levels: $75 and $79
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/10/21/dd-stock-forecast-what-to-expect-in-nyse-dd-results-ahead/