Chemicals maker E.I. DuPont de Nemours & Co. (
), commonly known as DuPont, on Tuesday posted second quarter
earnings that beat Wall Street's expectations, but forecast
full-year results to come in at the low end of its
The Wilmington, DE-based company reported second quarter net
income of $1.18 billion, or $1.25 per share, compared with $1.22
billion, or $1.29 per share, in the year-ago period. Excluding
special items, adjusted profit was $1.48 per share.
Revenue rose 7.5% from last year to $11.28 billion.
On average, Wall Street analysts expected a smaller profit of
$1.46 per share, on lower revenue of $11.25 billion.
On a sour note, DD said it now expects full-year 2012 earnings
to come in at the low end of its previously-announced range of
$4.20 to $4.40 per share.
DuPont shares fell 41 cents, or -0.8%, in premarket trading
The Bottom Line
Shares of DuPont (
) have a 3.53% dividend yield, based on last night's closing stock
price of $48.71. The stock has technical support in the $44-$46
price area. If the shares can firm up, we see overhead resistance
around the $52-$54 price levels.
E.I. DuPont de Nemours & Co. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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