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Company Update: E I du Pont de Nemours and Company (NYSE:DD) – U.S. Justice Dept should analyze Dow-DuPont deal -Sen. Grassley

[Reuters] – The U.S. Department of Justice’s antitrust division should “conduct a careful analysis” of Dow Chemical Co’s proposed $130 billion merger with DuPont to ensure it will not hurt competition in the farming sector, U.S. Senator Charles Grassley said on Tuesday. The U.S. Department of Agriculture has agreed to join the panel, people familiar with the matter have told Reuters, in a move that subjects the deal to additional government scrutiny. Read more on this. E. I. du Pont de Nemours and Company (DD) , valued at $57.26B, started trading this morning at $66.61. Shares have traded today between $65.35 and $66.76 per share with a trailing 52-week range being $47.11 to $75.72. DuPont (DD) shares are currently priced at 21.19x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.23x earnings multiple for the same period. And for income investors, the company pays shareholders $1.52 per share annually in dividends, yielding 2.25%. Consensus earnings for the current quarter by the 17 sell-side analysts covering the stock is an estimate of $1.10 per share, which would be $0.01 better than the year-ago quarter and a $0.01 sequential increase. What we find to be interesting is that the full-year EPS estimate of $3.15 is a $0.38 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.01 Billion. If realized, that would be a 18.49% decrease over the year-ago quarter. Recently, Credit Agricole downgraded DD from Outperform to Underperform (Apr 27, 2016). Previously, Bernstein upgraded DD from Mkt Perform to Outperform. When considering if perhaps the stock is under or overvalued, the average price target is $72.13, which is 8.29% above where the stock opened this morning. See more in (NYSE:DD) Similar Articles: Market Update: E I du Pont de Nemours and Company (NYSE:DD) – DuPont expects SEC review of Dow deal to end by June 30 Market Update: E I du Pont de Nemours and Company (NYSE:DD) – DuPont Agriculture Leader Outlines 2016 Priorities Company Update: E I du Pont de Nemours and Company (NYSE:DD) – DuPont, Dow Announce Site Structure Of Intended Independent Agriculture Company
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