Chemicals maker DuPont Co. (
) on Tuesday said its first quarter profit more than doubled from
last year, beating analyst expectations, as the company raised its
The Wilmington, DE-based company reported first quarter net
income of $1.14 billion, or $1.24 per share, compared with $488
million, or 54 cents per share, in the year-ago period. Revenue
surged 23% from last year, to $8.48 billion.
On average, Wall Street analysts had expected a smaller profit
of $1.06 per share on revenue of $8 billion.
Looking ahead, the company boosted its full-year earnings
forecast to a range of $2.50 to $2.70 per share, up significantly
from its prior view of $2.15 to $2.45 per share.
DuPont shares rose 75 cents, or +1.8%, in premarket trading
The Bottom Line
We removed DuPont from our "recommended" list last Sept. 26, at a
price of $42.61. The company currently has a dividend yield of
4.00%, based on last night's closing price of $40.95. The stock has
technical support in the $34-$35 price area. If the shares can firm
up, we see overhead resistance around the $45 price level. We would
remain on the sidelines for now
DuPont Co. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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