Dow Chemical Co. (DOW) Shares Gap Up to $51.18
Dow Chemical Co. (NYSE:DOW)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $51.01, but opened at $51.18. Dow Chemical shares last traded at $52.08, with a volume of 2,229,596 shares trading hands.
Several equities analysts have recently weighed in on DOW shares. Royal Bank Of Canada reiterated a “top pick” rating and set a $62.00 price objective (up previously from $60.00) on shares of Dow Chemical in a report on Wednesday, March 23rd. Credit Suisse Group AG began coverage on Dow Chemical in a research note on Thursday, March 24th. They issued an “outperform” rating and a $56.00 target price on the stock. Deutsche Bank AG restated a “buy” rating on shares of Dow Chemical in a research note on Thursday, March 24th. Zacks Investment Research upgraded Dow Chemical from a “hold” rating to a “strong-buy” rating and set a $58.00 target price on the stock in a research note on Wednesday, April 6th. Finally, Citigroup Inc. boosted their target price on Dow Chemical from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, April 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $55.58.
The stock’s 50 day moving average is $51.55 and its 200-day moving average is $49.76. The stock has a market capitalization of $58.45 billion and a price-to-earnings ratio of 9.94.
Dow Chemical (NYSE:DOW) last posted its earnings results on Thursday, April 28th. The company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.06. During the same quarter in the prior year, the business earned $0.84 EPS. The company earned $10.70 billion during the quarter, compared to the consensus estimate of $10.66 billion. The firm’s revenue for the quarter was down 13.5% compared to the same quarter last year. Analysts predict that Dow Chemical Co. will post $3.50 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, June 30th will be issued a $0.46 dividend. The ex-dividend date is Tuesday, June 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.53%.
Several hedge funds and institutional investors recently bought and sold shares of the stock. Shell Asset Management Co. raised its position in Dow Chemical by 61.0% in the fourth quarter. Shell Asset Management Co. now owns 354,893 shares of the company’s stock worth $18,270,000 after buying an additional 134,509 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Dow Chemical by 294.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 841,257 shares of the company’s stock worth $43,308,000 after buying an additional 628,001 shares in the last quarter. GAM Holding AG raised its position in Dow Chemical by 8.4% in the fourth quarter. GAM Holding AG now owns 152,671 shares of the company’s stock worth $7,860,000 after buying an additional 11,821 shares in the last quarter. Calamos Advisors LLC raised its position in Dow Chemical by 0.4% in the fourth quarter. Calamos Advisors LLC now owns 615,662 shares of the company’s stock worth $31,694,000 after buying an additional 2,515 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in Dow Chemical by 7.9% in the fourth quarter. Teacher Retirement System of Texas now owns 1,182,433 shares of the company’s stock worth $60,872,000 after buying an additional 86,092 shares in the last quarter.
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