BidaskClub upgraded shares of Dow Chemical Company (The) (NYSE:DOW) from a strong sell rating to a sell rating in a research note published on Thursday morning.
A number of other research firms have also recently commented on DOW. UBS AG reissued a buy rating and issued a $72.00 target price on shares of Dow Chemical Company (The) in a research note on Monday, May 15th. Credit Suisse Group set a $66.00 target price on Dow Chemical Company (The) and gave the stock a buy rating in a research note on Sunday, April 30th. Alembic Global Advisors set a $85.00 target price on Dow Chemical Company (The) and gave the stock a buy rating in a research note on Thursday, July 27th. Cowen and Company increased their target price on Dow Chemical Company (The) from $47.00 to $60.00 and gave the stock a market perform rating in a research note on Wednesday, May 31st. Finally, Royal Bank Of Canada reissued a buy rating and issued a $76.00 target price on shares of Dow Chemical Company (The) in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average price target of $71.42.
Shares of Dow Chemical Company (NYSE:DOW) traded up 0.35% during trading on Thursday, reaching $63.40. The company’s stock had a trading volume of 5,426,031 shares. Dow Chemical Company has a one year low of $51.57 and a one year high of $67.50. The firm has a market cap of $77.57 billion, a P/E ratio of 27.15 and a beta of 1.13. The stock’s 50 day moving average is $64.64 and its 200 day moving average is $63.14.
Dow Chemical Company (The) (NYSE:DOW) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.07. The company had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $13.60 billion. Dow Chemical Company (The) had a return on equity of 17.08% and a net margin of 5.83%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 earnings per share. On average, equities analysts forecast that Dow Chemical Company will post $4.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, July 31st will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, July 27th. This represents a $1.84 annualized dividend and a dividend yield of 2.90%. Dow Chemical Company (The)’s dividend payout ratio (DPR) is presently 76.99%.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Dow Chemical Company (The) by 3.4% in the second quarter. Vanguard Group Inc. now owns 83,932,612 shares of the basic materials company’s stock valued at $5,293,630,000 after buying an additional 2,741,153 shares during the period. BlackRock Inc. boosted its stake in Dow Chemical Company (The) by 3.8% in the second quarter. BlackRock Inc. now owns 83,423,778 shares of the basic materials company’s stock valued at $5,261,538,000 after buying an additional 3,075,321 shares during the period. Capital World Investors boosted its stake in Dow Chemical Company (The) by 1.2% in the second quarter. Capital World Investors now owns 22,742,382 shares of the basic materials company’s stock valued at $1,434,362,000 after buying an additional 275,695 shares during the period. Bank of New York Mellon Corp boosted its stake in Dow Chemical Company (The) by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 16,655,781 shares of the basic materials company’s stock valued at $1,050,480,000 after buying an additional 114,858 shares during the period. Finally, Third Point LLC boosted its stake in Dow Chemical Company (The) by 1.9% in the second quarter. Third Point LLC now owns 16,000,000 shares of the basic materials company’s stock valued at $1,009,120,000 after buying an additional 300,000 shares during the period. 68.36% of the stock is currently owned by institutional investors.
About Dow Chemical Company (The)
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