Dow Chemical Co. (DOW) Receives Consensus Rating of “Buy” from Analysts
Shares of Dow Chemical Co. (NYSE:DOW) have received a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the firm. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nine have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $61.41.
DOW has been the subject of several recent research reports. Zacks Investment Research raised shares of Dow Chemical from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Wednesday, October 5th. Vetr upgraded shares of Dow Chemical from a “sell” rating to a “hold” rating and set a $51.12 price objective on the stock in a research report on Monday, August 15th. Citigroup Inc. upgraded shares of Dow Chemical from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $59.00 in a research report on Monday, October 3rd. RBC Capital Markets set a $65.00 price objective on shares of Dow Chemical and gave the company a “buy” rating in a research report on Tuesday, September 20th. Finally, Nomura boosted their price objective on shares of Dow Chemical from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, July 29th.
Dow Chemical (NYSE:DOW) opened at 54.33 on Friday. The company has a market cap of $60.92 billion, a PE ratio of 8.47 and a beta of 1.20. Dow Chemical has a 52-week low of $40.26 and a 52-week high of $57.10. The stock’s 50 day moving average is $53.55 and its 200-day moving average is $52.69.
Dow Chemical (NYSE:DOW) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.12. The business earned $12.48 billion during the quarter, compared to the consensus estimate of $12.01 billion. Dow Chemical had a net margin of 16.91% and a return on equity of 17.81%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. Equities research analysts predict that Dow Chemical will post $3.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, September 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 3.39%. Dow Chemical’s dividend payout ratio is presently 29.07%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. HighPoint Advisor Group LLC increased its position in shares of Dow Chemical by 48.1% in the third quarter. HighPoint Advisor Group LLC now owns 26,973 shares of the company’s stock valued at $1,439,000 after buying an additional 8,762 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Dow Chemical by 37.7% in the third quarter. D.A. Davidson & CO. now owns 40,868 shares of the company’s stock valued at $2,113,000 after buying an additional 11,196 shares in the last quarter. Whalerock Point Partners LLC purchased a new position in shares of Dow Chemical during the third quarter valued at about $554,000. Piedmont Investment Advisors LLC purchased a new position in shares of Dow Chemical during the third quarter valued at about $17,979,000. Finally, OLD Republic International Corp increased its position in shares of Dow Chemical by 45.1% in the third quarter. OLD Republic International Corp now owns 1,048,400 shares of the company’s stock valued at $51,571,000 after buying an additional 326,000 shares in the last quarter. Hedge funds and other institutional investors own 67.32% of the company’s stock.
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Dow Chemical Company Profile
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