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Market Update: E I du Pont de Nemours and Company (NYSE:DD) – DuPont expects SEC review of Dow deal to end by June 30

[Reuters] – DuPont said on Tuesday it expected the U.S. Securities and Exchange Commission’s review of its proposed merger with Dow Chemical Co to be completed by the end of June. “We are shooting for October-November kind of close of the transaction,” DuPont Chief Executive Edward Breen said on a post-earnings call. DuPont said last month that the antitrust division of the U.S. Department of Justice had requested additional information and materials to assess the merger. Read more on this. E. I. du Pont de Nemours and Company (DD) , valued at $58.77B, started trading this morning at $66.78. Looking at today’s market, DD one day range is $64.68 to $67.82 with a one year range of $47.11 to $75.72. DuPont (DD) shares are currently priced at 21.77x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 16.44x earnings multiple for the same period. And for income investors, the company pays shareholders $1.52 per share annually in dividends, yielding 2.30%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $1.04 per share, which would be $0.22 worse than the year-ago quarter and a $0.06 sequential decrease. The full-year EPS estimate is $3.03 which would be a $0.26 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.19 Billion. If realized, that would be a 21.59% decrease over the year-ago quarter. More recently, Bernstein upgraded DD from Mkt Perform to Outperform (Jan 8, 2016). Previously, Citigroup downgraded DD from Buy to Neutral. The average price target for DD shares by the analysts covering it is $65.33, which is 2.17% below where the stock opened. See more in (NYSE:DD) Similar Articles: Market Update: E I du Pont de Nemours and Company (NYSE:DD) – DuPont Agriculture Leader Outlines 2016 Priorities Market Update: E I du Pont de Nemours and Company (NYSE:DD) – DuPont Names Krysta Harden as Vice President of Public Policy and Chief Sustainability Officer Market Update: E I du Pont de Nemours and Company (NYSE:DD) – DuPont Industrial Biosciences and ADM Announce Breakthrough Platform Technology for Long Sought-After Molecule
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