Dow Chemical Co. (DOW) Forecasted to Earn FY2019 Earnings of $4.30 Per Share
Dow Chemical Co. (NYSE:DOW) – Equities research analysts at Jefferies Group issued their FY2019 EPS estimates for Dow Chemical in a note issued to investors on Thursday. Jefferies Group analyst L. Alexander expects that the brokerage will post earnings of $4.30 per share for the year.
Dow Chemical (NYSE:DOW) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.09. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $11.24 billion. Dow Chemical had a net margin of 18.31% and a return on equity of 18.86%. Dow Chemical’s revenue was down 7.4% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share.
Several other equities analysts have also weighed in on DOW. Credit Suisse Group AG reiterated a “buy” rating and issued a $61.00 target price on shares of Dow Chemical in a report on Friday, July 29th. Barclays PLC boosted their target price on shares of Dow Chemical from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday, July 29th. JPMorgan Chase & Co. upgraded shares of Dow Chemical from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $50.00 to $60.00 in a report on Friday, July 29th. Vetr upgraded shares of Dow Chemical from a “strong sell” rating to a “sell” rating and set a $51.12 target price on the stock in a report on Monday, August 1st. Finally, Nomura upped their price objective on shares of Dow Chemical from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $60.10.
Dow Chemical (NYSE:DOW) traded up 1.60% during trading on Monday, reaching $52.69. 4,889,045 shares of the company’s stock traded hands. The company has a market cap of $59.37 billion, a PE ratio of 7.70 and a beta of 1.40. The company has a 50 day moving average price of $53.04 and a 200-day moving average price of $52.24. Dow Chemical has a 12-month low of $40.26 and a 12-month high of $57.10.
Several hedge funds and other institutional investors have recently bought and sold shares of DOW. Vanguard Group Inc. increased its position in Dow Chemical by 0.9% in the second quarter. Vanguard Group Inc. now owns 72,495,760 shares of the company’s stock worth $3,603,764,000 after buying an additional 655,229 shares during the period. State Street Corp increased its position in Dow Chemical by 2.5% in the first quarter. State Street Corp now owns 45,145,666 shares of the company’s stock worth $2,296,103,000 after buying an additional 1,092,573 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Dow Chemical by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 29,279,080 shares of the company’s stock worth $1,489,134,000 after buying an additional 187,202 shares during the period. FMR LLC increased its position in 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. Finally, Franklin Resources Inc. increased its position in 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. 67.52% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Wednesday, September 28th. Dow Chemical’s dividend payout ratio is presently 27.10%.
About Dow Chemical
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