Dow Chemical Co. (NYSE:DOW) – Analysts at Jefferies Group lowered their Q3 2016 earnings estimates for shares of Dow Chemical in a report released on Thursday. Jefferies Group analyst L. Alexander now forecasts that the brokerage will post earnings per share of $0.84 for the quarter, down from their prior forecast 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.
Dow Chemical (NYSE:DOW) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. The business earned $12 billion during the quarter, compared to analyst estimates of $11.24 billion. Dow Chemical had a return on equity of 18.86% and a net margin of 18.31%. Dow Chemical’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 EPS.
A number of other equities research analysts have also weighed in on the company. RBC Capital Markets set a $65.00 price objective on Dow Chemical and gave the stock a “buy” rating in a research report on Tuesday, September 20th. Vetr upgraded Dow Chemical from a “hold” rating to a “buy” rating and set a $57.48 price objective on the stock in a research report on Monday, September 5th. Credit Suisse Group AG reiterated a “buy” rating and issued a $61.00 price objective on shares of Dow Chemical in a research report on Friday, July 29th. Nomura lifted their price objective on Dow Chemical from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Barclays PLC lifted their price objective on Dow Chemical from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report 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 issued a buy rating to the company. Dow Chemical has an average rating of “Buy” and a consensus target price of $59.83.
Shares of Dow Chemical (NYSE:DOW) opened at 51.83 on Friday. The company has a 50-day moving average price of $53.06 and a 200-day moving average price of $52.20. The stock has a market capitalization of $58.40 billion, a price-to-earnings ratio of 7.57 and a beta of 1.52. Dow Chemical has a 52-week low of $40.26 and a 52-week high of $57.10.
Several hedge funds and other institutional investors have recently bought and sold shares of DOW. Evercore Wealth Management LLC boosted its position in Dow Chemical by 1.4% in the second quarter. Evercore Wealth Management LLC now owns 37,292 shares of the company’s stock valued at $1,853,000 after buying an additional 521 shares in the last quarter. Williams Jones & Associates LLC boosted its stake in Dow Chemical by 15.2% in the second quarter. Williams Jones & Associates LLC now owns 123,498 shares of the company’s stock worth $6,139,000 after buying an additional 16,323 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Dow Chemical during the second quarter worth approximately $2,254,000. Kentucky Retirement Systems purchased a new stake in Dow Chemical during the second quarter worth approximately $4,746,000. Finally, Northwestern Mutual Investment Management Company LLC boosted its stake in Dow Chemical by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 42,836 shares of the company’s stock worth $2,129,000 after buying an additional 180 shares during the period. Hedge funds and other institutional investors own 67.52% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Wednesday, September 28th. Dow Chemical’s dividend payout ratio is currently 27.10%.
Dow Chemical Company Profile
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