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DuPont de Nemours (DD) Soars 5.8%: Is Further Upside Left in the Stock?

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DuPont de Nemours (DD) shares soared 5.8% in the last trading session to close at $58.55. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 17.8% loss over the past four weeks.

DD’s rally appears to reflect sustained strong demand in electronics, industrial technologies, water and construction end-markets. It is also gaining from its cost and productivity actions and strategic price increases to offset the cost inflation.

This specialty chemicals maker is expected to post quarterly earnings of $0.76 per share in its upcoming report, which represents a year-over-year change of -28.3%. Revenues are expected to be $3.27 billion, down 20.9% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For DuPont de Nemours, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on DD going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

DuPont de Nemours is part of the Zacks Chemical - Diversified industry. FMC (FMC), another stock in the same industry, closed the last trading session 4.4% higher at $108.23. FMC has returned -15.8% in the past month.

FMC's consensus EPS estimate for the upcoming report has changed +0.3% over the past month to $1.90. Compared to the company's year-ago EPS, this represents a change of +5%. FMC currently boasts a Zacks Rank of #3 (Hold).


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