Jefferies Group Equities Analysts Lower Earnings Estimates for Dow Chemical Co. (DOW)
Dow Chemical Co. (NYSE:DOW) – Jefferies Group cut their Q3 2016 earnings per share (EPS) estimates for shares of Dow Chemical in a report issued on Thursday. Jefferies Group analyst L. Alexander now expects that the brokerage will post earnings of $0.84 per share for the quarter, down from their previous estimate of $0.85. Jefferies Group also issued estimates for Dow Chemical’s Q4 2016 earnings at $0.92 EPS and FY2020 earnings at $4.70 EPS.
Several other research analysts have also recently issued reports on the stock. Credit Agricole SA cut shares of Dow Chemical from an “outperform” rating to an “underperform” rating in a report on Wednesday, July 6th. Vetr cut shares of Dow Chemical from a “buy” rating to a “sell” rating and set a $46.12 price target for the company. in a report on Monday, July 4th. Nomura reissued a “buy” rating on shares of Dow Chemical in a report on Tuesday, July 12th. RBC Capital Markets set a $65.00 price target on shares of Dow Chemical and gave the stock a “buy” rating in a report on Tuesday, September 20th. Finally, JPMorgan Chase & Co. cut shares of Dow Chemical from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $57.00 to $50.00 in a report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $59.83.
Dow Chemical (NYSE:DOW) opened at 51.83 on Friday. The firm has a market capitalization of $58.40 billion, a PE ratio of 7.57 and a beta of 1.52. Dow Chemical has a one year low of $40.26 and a one year high of $57.10. The stock’s 50 day moving average price is $53.06 and its 200 day moving average price is $52.20.
Dow Chemical (NYSE:DOW) last issued its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.09. The business had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.24 billion. Dow Chemical had a return on equity of 18.86% and a net margin of 18.31%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS.
A number of hedge funds have recently made changes to their positions in DOW. FMR LLC raised its stake in shares of Dow Chemical by 48.8% in the second quarter. FMR LLC now owns 21,277,852 shares of the company’s stock worth $1,057,723,000 after buying an additional 6,974,423 shares during the period. Franklin Resources Inc. raised its position in shares of Dow Chemical by 17.9% in the first quarter. Franklin Resources Inc. now owns 16,565,479 shares of the company’s stock worth $842,520,000 after buying an additional 2,517,977 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Dow Chemical during the second quarter worth $123,434,000. Boston Partners raised its position in shares of Dow Chemical by 32.1% in the second quarter. Boston Partners now owns 10,172,823 shares of the company’s stock worth $505,691,000 after buying an additional 2,471,255 shares during the period. Finally, Investec Asset Management LTD raised its position in shares of Dow Chemical by 7,832.3% in the first quarter. Investec Asset Management LTD now owns 2,161,396 shares of the company’s stock worth $109,929,000 after buying an additional 2,134,148 shares during the period. Hedge funds and other institutional investors own 67.52% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be given a dividend of $0.46 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.84 dividend on an annualized basis and a yield of 3.55%. Dow Chemical’s dividend payout ratio (DPR) is currently 27.10%.
About Dow Chemical
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