The Dow Chemical Company Sets New 52-Week High After Dividend Announcement (DOW)
The Dow Chemical Company (NYSE:DOW) shares reached a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company, AnalystRatingsNetwork reports. The stock traded as high as $54.89 and last traded at $54.67, with a volume of 5,287,397 shares traded. The stock had previously closed at $53.90.
The newly announced dividend is scheduled for Thursday, October 30th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.75%.
A number of analysts have recently weighed in on DOW shares. Analysts at Zacks reiterated a “neutral” rating on shares of The Dow Chemical Company in a research note on Monday, July 28th. They now have a $56.00 price target on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of The Dow Chemical Company in a research note on Thursday, July 24th. They now have a $60.00 price target on the stock, up previously from $56.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of The Dow Chemical Company in a research note on Thursday, July 24th. They now have a $57.00 price target on the stock, up previously from $54.00. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $54.64.
The stock has a 50-day moving average of $52.59 and a 200-day moving average of $50.63. The company has a market cap of $64.521 billion and a price-to-earnings ratio of 19.00.
The Dow Chemical Company (NYSE:DOW) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.72 by $0.02. The company had revenue of $14.92 billion for the quarter, compared to the consensus estimate of $14.82 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts expect that The Dow Chemical Company will post $2.95 EPS for the current fiscal year.
The Dow Chemical Company combines the power of science and technology to passionately innovate what is essential to human progress.
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