Analysts Set Dow Chemical Co. (DOW) PT at $59.58
Shares of Dow Chemical Co. (NYSE:DOW) have earned an average rating of “Buy” from the sixteen ratings firms that are covering the company. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $59.58.
Several brokerages have weighed in on DOW. Vetr raised Dow Chemical from a “hold” rating to a “buy” rating and set a $57.48 price objective for the company in a report on Monday, September 5th. Nomura raised their price target on Dow Chemical from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $61.00 price target on shares of Dow Chemical in a report on Friday, July 29th. JPMorgan Chase & Co. raised Dow Chemical from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $50.00 to $60.00 in a report on Friday, July 29th. Finally, Barclays PLC raised their price target on Dow Chemical from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, July 29th.
A number of large investors have recently added to or reduced their stakes in the stock. Washington Trust Bank increased its stake in Dow Chemical by 7.9% in the third quarter. Washington Trust Bank now owns 1,926 shares of the company’s stock worth $100,000 after buying an additional 141 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Dow Chemical during the second quarter worth $111,000. Americafirst Capital Management LLC purchased a new stake in Dow Chemical during the second quarter worth $112,000. Nelson Roberts Investment Advisors LLC increased its stake in Dow Chemical by 2.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 2,260 shares of the company’s stock worth $112,000 after buying an additional 50 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC purchased a new stake in Dow Chemical during the second quarter worth $115,000. Institutional investors and hedge funds own 67.43% of the company’s stock.
Dow Chemical (NYSE:DOW) opened at 53.38 on Friday. Dow Chemical has a one year low of $40.26 and a one year high of $57.10. The firm has a market cap of $60.15 billion, a PE ratio of 7.80 and a beta of 1.40. The firm has a 50-day moving average price of $53.02 and a 200-day moving average price of $52.33.
Dow Chemical (NYSE:DOW) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.09. Dow Chemical had a return on equity of 18.86% and a net margin of 18.31%. The business earned $12 billion during the quarter, compared to analyst estimates of $11.24 billion. During the same period in the prior year, the company earned $0.91 earnings per share. Dow Chemical’s revenue was down 7.4% compared to the same quarter last year. On average, equities analysts expect that Dow Chemical will post $3.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.84 dividend on an annualized basis and a yield of 3.45%. Dow Chemical’s payout ratio is 27.10%.
Dow Chemical Company Profile
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