$13.8 Billion in Sales Expected for Dow Chemical Co (DOW) This Quarter
Analysts expect that Dow Chemical Co (NYSE:DOW) will report $13.8 billion in sales for the current quarter, according to Zacks. Three analysts have made estimates for Dow Chemical’s earnings. The lowest sales estimate is $13.44 billion and the highest is $14.05 billion. Dow Chemical posted sales of $11.95 billion in the same quarter last year, which suggests a positive year over year growth rate of 15.5%. The business is expected to announce its next earnings results before the market opens on Thursday, July 27th.
On average, analysts expect that Dow Chemical will report full year sales of $13.8 billion for the current year, with estimates ranging from $52.6 billion to $54.52 billion. For the next financial year, analysts forecast that the business will report sales of $55.64 billion per share, with estimates ranging from $54 billion to $56.91 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Dow Chemical.
Dow Chemical (NYSE:DOW) last released its earnings results on Thursday, April 27th. The basic materials company reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.05. The company had revenue of $13.23 billion during the quarter, compared to analysts’ expectations of $12.46 billion. Dow Chemical had a return on equity of 16.85% and a net margin of 8.97%. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS.
Several research analysts recently issued reports on DOW shares. Vetr raised Dow Chemical from a “sell” rating to a “hold” rating and set a $57.94 target price for the company in a research report on Tuesday, January 31st. Jefferies Group LLC raised Dow Chemical from a “hold” rating to a “buy” rating and raised their target price for the stock from $65.00 to $75.00 in a research report on Monday, March 6th. Alembic Global Advisors set a $85.00 target price on Dow Chemical and gave the stock a “buy” rating in a research report on Monday, March 20th. Zacks Investment Research lowered Dow Chemical from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Finally, Barclays PLC reaffirmed a “hold” rating and set a $65.00 target price on shares of Dow Chemical in a research report on Sunday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Dow Chemical presently has an average rating of “Buy” and an average target price of $70.42.
Hedge funds have recently modified their holdings of the company. Pinnacle Bank acquired a new stake in shares of Dow Chemical during the first quarter worth $103,000. West Oak Capital LLC increased its stake in shares of Dow Chemical by 29.2% in the first quarter. West Oak Capital LLC now owns 1,679 shares of the basic materials company’s stock worth $107,000 after buying an additional 379 shares during the last quarter. First Financial Corp IN increased its stake in shares of Dow Chemical by 79.8% in the first quarter. First Financial Corp IN now owns 1,690 shares of the basic materials company’s stock worth $107,000 after buying an additional 750 shares during the last quarter. Cable Hill Partners LLC increased its stake in shares of Dow Chemical by 7.6% in the first quarter. Cable Hill Partners LLC now owns 1,764 shares of the basic materials company’s stock worth $112,000 after buying an additional 124 shares during the last quarter. Finally, Kernodle & Katon Asset Management Group LLC increased its stake in shares of Dow Chemical by 5.2% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 2,184 shares of the basic materials company’s stock worth $113,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 69.38% of the company’s stock.
Shares of Dow Chemical (NYSE:DOW) opened at 61.06 on Friday. The stock has a 50 day moving average price of $62.09 and a 200 day moving average price of $60.10. The firm has a market capitalization of $74.60 billion, a PE ratio of 15.04 and a beta of 1.12. Dow Chemical has a 1-year low of $47.51 and a 1-year high of $65.42.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.84 dividend on an annualized basis and a yield of 3.01%. Dow Chemical’s payout ratio is currently 54.76%.
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Dow Chemical Company Profile
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