Market Update: The Dow Chemical Company (NYSE:DOW) – Dow Delivers Progress on JV Consolidation Commitments

[Business Wire] – The Dow Chemical Company announced that it has finalized the transaction to sell its ownership interest in MEGlobal to EQUATE Petrochemical Company K.S.C. and has received $1.5 billion in pre-tax proceeds. Read more on this. The Dow Chemical Company (DOW) , valued at $60.97B, opened this morning at $52.07. Today’s price range has been between $51.66 and $52.65 per share with its 52-week range being $35.11 to $57.10. Priced at 15.54x this year’s forecasted earnings, DOW shares are relatively inexpensive compared to the industry’s 29.72x forward p/e ratio. And for dividend hunters, the company pays shareholders $1.84 per share annually in dividends, yielding 3.71%. In a review of the consensus earnings estimate this quarter, 21 sell-side analysts are looking at $0.70 per share, which would be $0.15 worse than the year-ago quarter and a $0.03 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.28 would be a $0.17 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $11.23 Billion. If reported, that would be a 21.91% decrease over the year-ago quarter. In terms of ratings, Deutsche Bank upgraded DOW from Hold to Buy (Oct 23, 2014). Previously, RBC Capital Mkts Initiated DOW at to Outperform. The average price target for DOW shares by the analysts covering the stock is $58.56, which is 12.46% above where the stock opened this morning. See more in (NYSE:DOW) Similar Articles: Company Update: The Dow Chemical Company (NYSE:DOW) – Dow Announces Start-Up of New Texas Propylene Production Facility Market Update: The Dow Chemical Company (NYSE:DOW) – Seven Dow Technologies Honored By R&D 100 Magazine Market Update: The Dow Chemical Company (NYSE:DOW) – Dow Announces Preliminary Results of Exchange Offer for Chlorine Value Chain Business