Stock Traders Buy High Volume of Dow Chemical Put Options (DOW)
Dow Chemical (NYSE:DOW) was the target of some unusual options trading activity on Wednesday. Traders bought 21,871 put options on the stock, StockRatingsNetwork.com reports. This represents an increase of 424% compared to the typical daily volume of 4,177 put options.
A number of analysts have recently weighed in on DOW shares. Analysts at Credit Suisse raised their price target on shares of Dow Chemical from $39.00 to $45.00 in a research note to investors on Thursday, October 3rd. They now have an “outperform” rating on the stock. Separately, analysts at Argus reiterated a “buy” rating on shares of Dow Chemical in a research note to investors on Tuesday, October 1st. They now have a $47.00 price target on the stock. Finally, analysts at UBS AG raised their price target on shares of Dow Chemical from $42.00 to $43.00 in a research note to investors on Tuesday, October 1st. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.75.
Shares of Dow Chemical (NYSE:DOW) traded down 1.23% on Wednesday, hitting $41.04. 7,340,899 shares of the company’s stock traded hands. Dow Chemical has a 52-week low of $27.45 and a 52-week high of $40.24. The stock’s 50-day moving average is $37.34 and its 200-day moving average is $34.25. The company has a market cap of $49.572 billion and a price-to-earnings ratio of 18.53.
Dow Chemical (NYSE:DOW) last announced its earnings results on Thursday, July 25th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $14.60 billion for the quarter, compared to the consensus estimate of $14.48 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. Analysts expect that Dow Chemical will post $2.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 30th. Shareholders of record on Monday, September 30th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, September 26th.
The Dow Chemical Company combines the power of science and technology to passionately innovate what is essential to human progress.
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