Dow Chemical Co. (DOW) Shares Gap Up to $53.27
Dow Chemical Co. (NYSE:DOW)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $53.14, but opened at $53.27. Dow Chemical shares last traded at $53.75, with a volume of 3,112,131 shares trading hands.
Several equities analysts have recently issued reports on the stock. Barclays PLC boosted their price target on shares of Dow Chemical from $50.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, May 2nd. Jefferies Group boosted their price target on shares of Dow Chemical from $54.00 to $58.00 and gave the company a “hold” rating in a report on Monday, May 2nd. Royal Bank Of Canada reissued a “buy” rating on shares of Dow Chemical in a report on Saturday, April 30th. Credit Suisse Group AG reissued a “buy” rating on shares of Dow Chemical in a report on Saturday, April 30th. Finally, JPMorgan Chase & Co. downgraded shares of Dow Chemical from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $50.00 in a report on Tuesday, June 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $55.58.
The stock has a 50 day moving average of $51.68 and a 200-day moving average of $49.93. The company has a market cap of $60.12 billion and a PE ratio of 10.22.
Dow Chemical (NYSE:DOW) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.06. During the same period last year, the firm posted $0.84 EPS. The business had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.66 billion. Dow Chemical’s quarterly revenue was down 13.5% on a year-over-year basis. Analysts expect that Dow Chemical Co. will post $3.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Thursday, June 30th will be given a dividend of $0.46 per share. The ex-dividend date is Tuesday, June 28th. This represents a $1.84 dividend on an annualized basis and a yield of 3.44%.
Other large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Dow Chemical by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 70,516,634 shares of the company’s stock worth $3,630,196,000 after buying an additional 1,273,303 shares in the last quarter. BlackRock Advisors LLC raised its stake in shares of Dow Chemical by 5.2% in the fourth quarter. BlackRock Advisors LLC now owns 6,434,644 shares of the company’s stock worth $331,255,000 after buying an additional 319,627 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Dow Chemical by 40.1% in the fourth quarter. Bank of Montreal Can now owns 5,448,700 shares of the company’s stock worth $280,499,000 after buying an additional 1,559,156 shares in the last quarter. Levin Capital Strategies L.P. raised its stake in shares of Dow Chemical by 35.8% in the fourth quarter. Levin Capital Strategies L.P. now owns 5,313,392 shares of the company’s stock worth $273,533,000 after buying an additional 1,400,529 shares in the last quarter. Finally, Boston Partners purchased a new stake in shares of Dow Chemical during the fourth quarter worth $243,117,000.
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