According to Zacks, “Dow Chemical’s adjusted earnings for third-quarter 2016 topped the Zacks Consensus Estimate, aided by its productivity and cost-reduction actions. However, profit (as reported) slid year over year, hurt by charges related to the Dow Corning ownership restructure. Revenues rose year over year, and beat expectations. Dow should benefit from its productivity and aggressive portfolio management actions as well as strategic investments in the U.S. Gulf Coast and the Middle East. The company is also moving forward with its planned mega-merger with DuPont, which is expected to create significant synergies. Dow should also gain from cost synergies associated with Dow Corning Silicones business in 2016. However, Dow’s agriculture business remains affected by depressed crop commodity prices. The company also faces weak demand in the energy market and pricing & currency headwinds.”
Other research analysts have also issued research reports about the company. Credit Suisse Group AG reissued a buy rating and set a $61.00 price objective on shares of Dow Chemical in a report on Friday, July 29th. RBC Capital Markets reaffirmed a top pick rating and issued a $68.00 target price (up previously from $65.00) on shares of Dow Chemical in a research note on Friday, October 28th. Nomura reaffirmed a buy rating on shares of Dow Chemical in a research note on Tuesday, July 12th. Credit Agricole SA lowered Dow Chemical from an outperform rating to an underperform rating in a research note on Wednesday, July 6th. Finally, Barclays PLC upped their target price on Dow Chemical from $55.00 to $58.00 and gave the stock an equal weight rating in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Dow Chemical presently has an average rating of Buy and an average price target of $61.21.
Dow Chemical (NYSE:DOW) opened at 53.65 on Wednesday. The company has a market cap of $60.16 billion, a price-to-earnings ratio of 8.36 and a beta of 1.20. Dow Chemical has a 12-month low of $40.26 and a 12-month high of $57.10. The firm’s 50-day moving average is $53.15 and its 200 day moving average is $52.58.
Dow Chemical (NYSE:DOW) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.12. Dow Chemical had a return on equity of 17.81% and a net margin of 16.91%. The company earned $12.48 billion during the quarter, compared to analyst estimates of $12.01 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Dow Chemical’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that Dow Chemical will post $3.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, September 30th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Wednesday, September 28th. Dow Chemical’s dividend payout ratio is presently 29.07%.
A number of institutional investors have recently added to or reduced their stakes in DOW. Washington Trust Bank boosted its position in shares of 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 period. Smithfield Trust Co. boosted its position in shares of Dow Chemical by 14.2% in the third quarter. Smithfield Trust Co. now owns 1,941 shares of the company’s stock worth $101,000 after buying an additional 241 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Dow Chemical during the second quarter worth approximately $111,000. Americafirst Capital Management LLC bought a new position in shares of Dow Chemical during the second quarter worth approximately $112,000. Finally, Nelson Roberts Investment Advisors LLC boosted 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 worth $112,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 67.54% of the company’s stock.
Source: bangaloreweekly
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