Dow Chemical’s (DOW) “Hold” Rating Reiterated at Citigroup Inc

Dow Chemical Co (NYSE:DOW)‘s stock had its “hold” rating reaffirmed by research analysts at Citigroup Inc in a note issued to investors on Friday, April 14th. They currently have a $35.00 target price on the basic materials company’s stock, down from their prior target price of $69.00. Citigroup Inc’s target price indicates a potential downside of 42.23% from the company’s previous close.

A number of other brokerages also recently commented on DOW. Vetr upgraded shares of Dow Chemical from a “sell” rating to a “hold” rating and set a $63.72 target price for the company in a report on Tuesday, February 14th. Jefferies Group LLC upgraded shares of Dow Chemical from a “hold” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $75.00 in a report on Monday, March 6th. Alembic Global Advisors set a $85.00 target price on shares of Dow Chemical and gave the stock a “buy” rating in a report on Monday, March 20th. Zacks Investment Research upgraded shares of Dow Chemical from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Friday, December 30th. Finally, Royal Bank of Canada upped their price objective on shares of Dow Chemical from $68.00 to $72.00 and gave the company a “top pick” rating in a report on Monday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Dow Chemical presently has a consensus rating of “Buy” and an average price target of $70.42.

Analyst Recommendations for Dow Chemical (NYSE:DOW)

Shares of Dow Chemical (NYSE:DOW) traded up 1.032% on Friday, reaching $61.205. 4,016,206 shares of the company’s stock traded hands. The stock has a 50-day moving average of $62.47 and a 200 day moving average of $59.82. The firm has a market cap of $74.77 billion, a P/E ratio of 15.079 and a beta of 1.12. Dow Chemical has a 12-month low of $47.51 and a 12-month high of $65.42.

Dow Chemical (NYSE:DOW) last announced its earnings results on Thursday, April 27th. The basic materials company reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.05. The business had revenue of $13.23 billion during the quarter, compared to the consensus estimate of $12.46 billion. Dow Chemical had a net margin of 8.97% and a return on equity of 16.85%. The firm’s revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. On average, equities research analysts expect that Dow Chemical will post $4.07 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, June 30th will be given a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.84 annualized dividend and a yield of 3.04%. Dow Chemical’s dividend payout ratio is presently 54.76%.

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A number of large investors have recently added to or reduced their stakes in DOW. Mutual of Omaha Bank Wealth Management raised its stake in Dow Chemical by 1.0% in the third quarter. Mutual of Omaha Bank Wealth Management now owns 41,908 shares of the basic materials company’s stock valued at $2,172,000 after buying an additional 430 shares in the last quarter. Trust Co. of Vermont raised its stake in Dow Chemical by 10.3% in the third quarter. Trust Co. of Vermont now owns 11,872 shares of the basic materials company’s stock valued at $615,000 after buying an additional 1,111 shares in the last quarter. GWM Advisors LLC bought a new stake in Dow Chemical during the third quarter valued at approximately $509,000. Coastline Trust Co raised its stake in Dow Chemical by 3.8% in the third quarter. Coastline Trust Co now owns 16,895 shares of the basic materials company’s stock valued at $875,000 after buying an additional 615 shares in the last quarter. Finally, First National Bank & Trust Co. of Newtown raised its stake in Dow Chemical by 0.5% in the third quarter. First National Bank & Trust Co. of Newtown now owns 10,548 shares of the basic materials company’s stock valued at $547,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 69.38% of the company’s stock.

Dow Chemical Company Profile

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