DuPont (DD) - Get DuPont de Nemours, Inc. Report shares firmed Tuesday after the chemicals company posted first-quarter earnings that beat expectations and lifted its earnings outlook for all of 2021.
The results triggered positive commentary from analysts.
Profit totaled $5.39 billion, or $8.90 a share, swinging from a loss of $616 million, or 83 cents a share, in the year-earlier quarter.
The latest adjusted earnings per share hit 91 cents, exceeding the FactSet analyst consensus estimate of 75 cents.
Revenue registered $3.98 billion in the quarter, up 8.3% from the year earlier and topping the FactSet analyst consensus of $3.85 billion.
DuPont lifted its estimate for full-year 2021 to a range of $3.60 to $3.75 from $3.30 to $3.45.
It raised its sales forecast to a range of $15.7 billion to $15.9 billion from $15.4 billion to $15.6 billion.
DuPont shares recently traded at $76.36, down 2.5%. They have jumped 31% in the past six months as investors have expressed enthusiasm about the economy reopening.
Gordon Haskett analyst John Inch rates DuPont buy with a price target of $88. The earnings report offers support for the stock, he said, according to Bloomberg.
KeyBanc analyst Aleksey Yefremov rates DuPont overweight with a price target of $87. The earnings report “confirms our short-term thesis of inflection in engineered polymers within mobility and materials business,” he said, according to Bloomberg.
TheStreet.com Founder Jim Cramer waxed bullish for DuPont in February.
In January, TheStreet.com’s Jeff Marks said DuPont could benefit from President Joe Biden’s China trade policy.