Dow Chemical Receives Buy Rating from Argus (DOW)
Dow Chemical (NYSE:DOW)‘s stock had its “buy” rating reiterated by stock analysts at Argus in a report issued on Friday, AnalystRatingsNetwork.com reports. They currently have a $47.00 target price on the stock. Argus’ price target would suggest a potential upside of 18.93% from the company’s current price.
Shares of Dow Chemical (NYSE:DOW) traded down 2.71% during mid-day trading on Friday, hitting $39.52. The stock had a trading volume of 10,921,926 shares. Dow Chemical has a 1-year low of $27.45 and a 1-year 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 $47.736 billion and a P/E ratio of 18.12. Dow Chemical also saw some unusual options trading on Wednesday. Stock traders bought 21,871 put options on the stock. This is an increase of 424% compared to the typical daily volume of 4,177 put options.
Dow Chemical (NYSE:DOW) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.54 by $0.04. The company had revenue of $13.73 million for the quarter, compared to the consensus estimate of $14.00 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts predict that Dow Chemical will post $2.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 30th. Investors of record on Monday, September 30th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Thursday, September 26th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of Dow Chemical from $37.00 to $43.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Separately, 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. 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, seven have given a hold rating and five have issued a buy rating to the company. Dow Chemical has a consensus rating of “Hold” and a consensus target price of $39.25.
The Dow Chemical Company combines the power of science and technology to passionately innovate what is essential to human progress.
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