Jefferies Lowers Estimates For DuPont
In a note dated June 26, Jefferies analyst Laurence Alexander lowered his second quarter 2014 and full-year 2014 EPS estimates on DuPont (NYSE: DD) from $1.50 and $4.35 to $1.18 and $4.05, respectively. Despite the reduction, he reiterated a Hold rating on the company's shares.
Alexander explained this reduction comes amid a weaker-than-expected agriculture season in North America, especially in corn and herbicides. Outside North America, Alexander noted, crop trends generally appear to be inline with expectations.
Due to the weak performance in these areas, DuPont suffered from higher-than-expected seed inventory write downs and lower-than-expected selling prices for refrigerants, according to Alexander.
Shares of DuPont have fallen over four percent in Friday's trading.
Latest Ratings for DD
|Oct 2016||Nomura||Initiates Coverage On||Buy|
|Aug 2016||Deutsche Bank||Maintains||Sell|
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