In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from DD and the news from its closest competitors.
Recent EPS Actuals vs. Estimates
The company has met or beaten analysts' estimates in the last four quarters. In the last quarter it reported $1.61 EPS, beating analyst estimates of $1.55.
The consensus EPS estimate is $1.46 based on 16 analysts' estimates, up from $1.37 a year ago. Revenue estimates are $11.25B, up from $10.26B a year ago. The median target price by analysts for the stock is $57.00.
Average recommendation: Overweight
Analyst Upgrades and Downgrades
- On July 2, 2012, Jefferies & Company downgraded the company from Strong Buy to Hold.
- On July 12, 2012, E. I. du Pont de Nemours and Co and Fiber-Line Inc. announced that they are collaborating to bring a new protective solution to better connect the world.
- On July 10, 2012, Reuters reported that opening arguments were underway in a potentially pivotal legal battle between agricultural giants Monsanto and E. I. du Pont de Nemours and Co over Monsanto's control of a seed technology worth billions of dollars.
- On July 6, 2012, E. I. du Pont de Nemours and Co announced that in a ruling favoring Danisco, on June 29, the Technical Board of Appeal at the European Patent Office (EPO) revoked Novozymes' animal feed enzyme patent, European Patent 1,804,592 (EP'592), in entirety throughout Europe.
- On June 21, 2012, E. I. du Pont de Nemours and Co announced that it has filed a lawsuit against Heraeus Materials Technology, LLC and its customer SolarWorld Industries America, Inc. in U.S. Federal Court for the District of Oregon for infringing a recently issued DuPont patent related to front-side metallization paste compositions used in solar cell technology.
- On June 19, 2012, Reuters reported that Monsanto Co is suing chief rival E.I. Du Pont de Nemours and Co (Du Pont), accusing DuPont and its agricultural crop subsidiary of treading on Monsanto's technological turf by copying key new plant breeding innovations.
- On June 8, 2012, Reuters reported that DuPont had acquired a unit of Britain's BAE Systems plc and taken a minority stake in a U.S. high-technology start up, Nanocomp Technologies Inc, to expand its portfolio of high-performance protection materials.
- On May 1, 2012, DuPont announced that it has acquired from Bunge full ownership of the Solae, LLC joint venture. DuPont previously owned 72% of the joint venture while Bunge owned the remaining 28%. Solae, LLC is a world leader in developing soy-based ingredients for nutritious, great-tasting products.
- On April 25, 2012, DuPont announced that Board of Directors has approved a 5% increase in the Company's quarterly cash dividend. The second quarter dividend will increase from $0.41 to $0.43 per share for common stock, payable June 12, 2012, to stockholders of record May 15, 2012.
- On March 23, 2012, China Sunergy Co., Ltd. announced that the Company, together with China Electric Equipment Group (CEEG) have signed a Letter of Intent with DuPont's DuPont China Holdings (DuPont) for strategic collaboration relating to photovoltaic (solar) technologies & materials, power transformer, insulation and aircraft composite materials over a three-year period.
- On February 14, 2012, DuPont announced that it has signed a multi-year lease agreement with Beijing International Flower Port to build a state-of-the-art Technology Hub for its Pioneer seed business in Beijing, China.
- On February 10, 2012, Reuters reported that DuPont has started the auction of its car paint business, which could bring in more than $4 billion and has drawn early interest from a number of private equity firms, according to sources familiar with the matter.
- On January 24, 2012, DuPont reaffirmed its fiscal 2012 earnings outlook of $4.20 to $4.40 per share (EPS), an increase of 7% to 12% versus fiscal 2011, excluding significant items.
- On January 23, 2012, DuPont announced that, the Company declared a first quarter common stock dividend of $0.41 per share payable March 14, 2012, to stockholders of record February 15, 2012.
Agrium (AGU), The Dow Chemical Company (DOW), PPG Industries (PPG), and Syngenta (SYT) are considered major competitors for E. I. du Pont de Nemours and Company and the table below provides the key metrics for these companies and the industry.
The chart below compares the stock price changes as a percentage for the selected companies and S&P 500 index for the last one year period.
Competitors' Latest Development
- On July 19, 2012, PPG Industries Inc announced that the board of directors have declared a regular quarterly dividend of $0.59 per share, payable September 12, 2012to shareholders of record August 10, 2012.
- On July 19, 2012, PPG Industries and Georgia Gulf Corporation announced that the boards of directors of both companies have approved definitive agreements under which PPG will separate its commodity chemicals business and then merge it with Georgia Gulf.
- On July 18, 2012, Agrium Inc. announced that it expects second quarter 2012 earnings to be in the range of $5.40 to $5.50 diluted earnings per share and the first half 2012 earnings to be in the range of $6.72 to $6.82 diluted earnings per share.
- On July 17, 2012, Reuters reported that PPG Industries has received the necessary approvals from Indian authorities to expand its coatings joint venture by creating a second joint venture with Asian Paints Ltd, India's coatings company.
- On June 29, 2012, Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company, and The Royal Barenbrug Group, announced a global strategic relationship for the development and commercialization of advanced germplasm in forage seeds.
- On June 27, 2012, Syngenta AG announced that it has entered into a barley breeding collaboration with InterGrain, an Australia-based crop breeding company. The collaboration will enable Syngenta and InterGrain to exchange germplasm to develop integrated solutions for barley growers across the world.
- On June 26, 2012, PPG Industries announced that it has signed a memorandum of understanding with Henan Billions Chemicals Co., Ltd. (Billions), by which PPG will license certain chloride-based technologies to Billions for use at Billions' titanium dioxide (TiO2) refinement facilities in China.
- On June 12, 2012, Agrium Inc. announced that it expects its first half 2012 earnings will be near or at the top end of its previously released guidance range of $5.50 to $6.10 diluted earnings per share on continuing operations (near or at the top end of its second quarter guidance range of $4.18 to $4.78 diluted earnings per share on continuing operations).
- On June 11, 2012, Syngenta AG announced that Sun Gro Horticulture Ltd., a North American producer of growing media, has signed an agreement to acquire the Fafard peat unit of the Lawn and Garden business.
- On June 7, 2012, Agrium Inc. announced that the Board of Directors has approved a $0.275 per share increase to the semi-annual dividend declared on May 11, 2012. The semi-annual dividend will be $0.50 per share and will be paid July 12, 2012 to shareholders of record on July 1, 2012.
- On June 1, 2012, Reuters reported that France is to ban Syngenta AG's pesticide which is used to treat rapeseed, after scientists suggested it could pose a danger to bees.
- On May 24, 2012, Reuters reported that an arbitrator ruled Kuwait's state-run chemical company must pay Dow Chemical Co $2.16 billion for wrongly canceling a planned plastics joint venture in 2008, Dow said on Thursday.
- On May 9, 2012, Agrium Inc. announced that it is providing guidance for the first half of 2012 of $5.50 to $6.10 diluted earnings per share . This excludes hedging gains or losses and share-based payments expense in its first quarter 2012 actual results and estimated second quarter 2012 results.
- On April 26, 2012, The Dow Chemical Company announced that it is confidence in ability to deliver higher and sustainable earnings growth over the long term.
- On April 19, 2012, PPG Industries announced that its Board of Directors approved a $0.02 per-share increase in the company's dividend, declaring a regular quarterly dividend of $0.59 per share, payable June 12, 2012 to shareholders of record May 10, 2012.
- On April 19, 2012, The Dow Chemical Company announced that the Company will construct a new world-scale ethylene production plant at Dow Texas Operations in Freeport, TX, as part of Dow's previously announced comprehensive plan to further connect its U.S. operations with cost-advantaged feedstocks available from increasing supplies of U.S. shale gas. The new ethylene production facility at Dow Texas Operations will employ up to 2,000 workers at its construction peak.
- On April 12, 2012, The Dow Chemical Company announced that its Board of Directors has declared a 28% increase in the second quarter dividend, from $0.25 per share to $0.32 per share.
- On April 3, 2012, PPG Industries announced that it has entered into a technical collaboration agreement with Argex Mining Inc to utilize PPG's existing technology and know-how relating to the manufacture of titanium dioxide (TiO2) pigment for paints and coatings applications.
- On April 2, 2012, The Dow Chemical Company announced it is implementing cost reductions in line with its commitment to actively manage its portfolio and in response to continued weakness in the European economy.
- On March 27, 2012, BM&FBovespa (Bovespa) announced that, on April 4, 2012, the Brazilian Depositary Receipts (BDRs) Level I of The Dow Chemical Company will start being traded on Bovespa's over-the-counter (OTC) market, quoted in BRL per unit and with standard trading lot of 100 BDRs, under the ticker DOWB11B.
- On March 21, 2012, The Dow Chemical Company's Dow AgroSciences LLC and Dualsystems Biotech announced a drug profiling agreement. Under the agreement, Dualsystems Biotech will use its drug profiling platform to identify molecular targets for an undisclosed small molecule lead candidate in Dow AgroSciences' agrochemical discovery program.
- On March 5, 2012, Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company, announced that it has divested its European Dithane fungicide business to Indofil Industries Ltd. of Mumbai, India.
The stock has a market capitalization of $45.31B and is currently trading at $48.35 with a 52 week range of $37.10 - $55.40. The stock's year-to-date performance has been 7.35%. It is currently trading below 20, 50 and 200 SMA.
Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.