Dow Chemical Co. (DOW) Given a $65.00 Price Target by RBC Capital Markets Analysts
Dow Chemical Co. (NYSE:DOW) has been given a $65.00 price objective by investment analysts at RBC Capital Markets in a research note issued to investors on Tuesday. The brokerage currently has a a “buy” rating on the stock. RBC Capital Markets’ target price would indicate a potential upside of 23.64% from the company’s current price.
Several other equities analysts have also recently issued reports on the company. Vetr raised Dow Chemical from a “hold” rating to a “buy” rating and set a $57.48 target price on the stock in a research note on Monday, September 5th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $61.00 target price on shares of Dow Chemical in a research note on Friday, July 29th. Nomura upped their target price on Dow Chemical from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Barclays PLC upped their target price on Dow Chemical from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. raised Dow Chemical from a “neutral” rating to an “overweight” rating and upped their target price for the company from $50.00 to $60.00 in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $59.83.
Shares of Dow Chemical (NYSE:DOW) traded down 0.02% during midday trading on Tuesday, hitting $52.56. The company’s stock had a trading volume of 4,345,543 shares. Dow Chemical has a 12-month low of $39.84 and a 12-month high of $57.10. The firm has a 50-day moving average of $53.34 and a 200 day moving average of $52.09. The firm has a market cap of $59.23 billion, a price-to-earnings ratio of 7.68 and a beta of 1.52.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/dow-chemical-co-dow-given-a-65-00-price-target-by-rbc-capital-markets-analysts.html
Dow Chemical (NYSE:DOW) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.09. The firm had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.24 billion. Dow Chemical had a return on equity of 18.86% and a net margin of 18.31%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. On average, equities research analysts predict that Dow Chemical will post $3.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be given a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.84 dividend on an annualized basis and a yield of 3.50%. Dow Chemical’s payout ratio is currently 27.10%.
Several institutional investors have recently modified their holdings of DOW. Evercore Wealth Management LLC boosted its position in shares of Dow Chemical by 1.4% in the second quarter. Evercore Wealth Management LLC now owns 37,292 shares of the company’s stock worth $1,853,000 after buying an additional 521 shares in the last quarter. Williams Jones & Associates LLC boosted its position in shares of 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 in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Dow Chemical during the second quarter worth about $2,254,000. Kentucky Retirement Systems acquired a new position in shares of Dow Chemical during the second quarter worth about $4,746,000. Finally, Northwestern Mutual Investment Management Company LLC boosted its position in shares of 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 in the last quarter. 67.53% of the stock is currently owned by institutional investors and hedge funds.
About Dow Chemical
Receive News & Ratings for Dow Chemical Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dow Chemical Co. and related companies with MarketBeat.com's FREE daily email newsletter.