Dow Chemical Co (DOW) Receives Consensus Recommendation of “Buy” from Analysts
Dow Chemical Co (NYSE:DOW) has been given a consensus rating of “Buy” by the thirteen brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $71.65.
Several analysts have commented on DOW shares. BidaskClub raised Dow Chemical from a “strong sell” rating to a “sell” rating in a report on Saturday, July 1st. Cowen and Company reissued a “hold” rating and issued a $60.00 price objective on shares of Dow Chemical in a report on Monday, August 28th. Jefferies Group LLC reissued a “buy” rating on shares of Dow Chemical in a report on Tuesday, August 29th. Zacks Investment Research lowered Dow Chemical from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $78.00 price objective on shares of Dow Chemical in a report on Wednesday, September 6th.
Dow Chemical (NYSE:DOW) remained flat at $66.65 on Wednesday. The company had a trading volume of 43,802,070 shares. The stock has a market capitalization of $81.54 billion, a PE ratio of 28.54 and a beta of 1.13. Dow Chemical has a 12-month low of $51.57 and a 12-month high of $67.50. The stock’s 50-day moving average price is $64.79 and its 200 day moving average price is $63.46.
Dow Chemical (NYSE:DOW) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.01 by $0.07. Dow Chemical had a return on equity of 19.01% and a net margin of 9.82%. The company had revenue of $13.83 billion for the quarter, compared to analyst estimates of $13.60 billion. During the same period last year, the company earned $0.95 earnings per share. Dow Chemical’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts forecast that Dow Chemical will post $4.11 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Dow Chemical by 7.6% during the first quarter. Vanguard Group Inc. now owns 81,191,459 shares of the basic materials company’s stock worth $5,158,905,000 after buying an additional 5,722,128 shares in the last quarter. Maverick Capital Ltd. purchased a new position in Dow Chemical during the second quarter worth approximately $274,667,000. Jana Partners LLC purchased a new position in Dow Chemical during the first quarter worth approximately $225,688,000. BlackRock Inc. lifted its position in Dow Chemical by 3.8% during the second quarter. BlackRock Inc. now owns 83,423,778 shares of the basic materials company’s stock worth $5,261,538,000 after buying an additional 3,075,321 shares in the last quarter. Finally, Glenview Capital Management LLC lifted its position in Dow Chemical by 34.8% during the first quarter. Glenview Capital Management LLC now owns 11,864,132 shares of the basic materials company’s stock worth $753,847,000 after buying an additional 3,066,049 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.
Dow Chemical Company Profile
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