Dow Chemical Co. (NYSE:DOW) – Research analysts at Jefferies Group cut their Q3 2016 earnings estimates for shares of Dow Chemical in a note issued to investors on Thursday. Jefferies Group analyst L. Alexander now expects that the brokerage will earn $0.84 per share for the quarter, down from their prior 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.
Other analysts have also issued reports about the company. Nomura reissued a “buy” rating on shares of Dow Chemical in a research note on Tuesday, July 12th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Dow Chemical in a research note on Monday, June 27th. Vetr raised Dow Chemical from a “hold” rating to a “buy” rating and set a $57.48 price objective on the stock in a research note on Monday, September 5th. RBC Capital Markets set a $65.00 price objective on Dow Chemical and gave the company a “buy” rating in a research note on Tuesday, September 20th. Finally, Barclays PLC lifted their price objective on Dow Chemical from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $59.83.
Shares of Dow Chemical (NYSE:DOW) traded up 0.52% during mid-day trading on Friday, reaching $52.00. 3,203,300 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $53.11 and a 200 day moving average price of $52.19. Dow Chemical has a 52 week low of $40.26 and a 52 week high of $57.10. The stock has a market cap of $58.60 billion, a price-to-earnings ratio of 7.60 and a beta of 1.52.
Dow Chemical (NYSE:DOW) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ 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%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the company. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Dow Chemical during the second quarter valued at approximately $111,000. Americafirst Capital Management LLC purchased a new position in shares of Dow Chemical during the second quarter valued at approximately $112,000. Nelson Roberts Investment Advisors LLC raised its position in shares of Dow Chemical by 2.3% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 2,260 shares of the company’s stock valued at $112,000 after buying an additional 50 shares during the last quarter. Pinkerton Retirement Specialists LLC purchased a new position in shares of Dow Chemical during the second quarter valued at approximately $115,000. Finally, Smith Asset Management Group LP raised its position in shares of Dow Chemical by 23.7% in the second quarter. Smith Asset Management Group LP now owns 2,350 shares of the company’s stock valued at $117,000 after buying an additional 450 shares during the last quarter. 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. Stockholders of record on Friday, September 30th will be given a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.84 annualized dividend and a dividend yield of 3.56%. Dow Chemical’s payout ratio is 27.10%.
Dow Chemical Company Profile
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