Fintel reports that on April 26, 2024, JP Morgan upgraded their outlook for Dow (NYSE:DOW) from Neutral to Overweight.
Analyst Price Forecast Suggests 4.88% Upside
As of April 17, 2024, the average one-year price target for Dow is 60.08. The forecasts range from a low of 47.47 to a high of $71.40. The average price target represents an increase of 4.88% from its latest reported closing price of 57.29.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dow is 53,338MM, an increase of 22.51%. The projected annual non-GAAP EPS is 5.52.
Dow Declares $0.70 Dividend
On February 15, 2024 the company declared a regular quarterly dividend of $0.70 per share ($2.80 annualized). Shareholders of record as of February 29, 2024 received the payment on March 8, 2024. Previously, the company paid $0.70 per share.
At the current share price of 57.29 / share, the stocks dividend yield is {1}%.
The current dividend yield is 0.50 standard deviations below the historical average.
Additionally, the companys dividend payout ratio is trading. The payout ratio tells us how much of a companys income is paid out in dividends. A payout ratio of one (1.0) means 100% of the companys income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 1,680 funds or institutions reporting positions in Dow. This is an decrease of 1,077 owner(s) or 39.06% in the last quarter. Average portfolio weight of all funds dedicated to DOW is 0.35%, an increase of 0.33%. Total shares owned by institutions decreased in the last three months by 32.25% to 324,680K shares. 
The put/call ratio of DOW is 0.87, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 22,036K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 21,853K shares , representing an increase of 0.83%. The firm decreased its portfolio allocation in DOW by 4.16% over the last quarter.
Pzena Investment Management holds 18,560K shares representing 2.64% ownership of the company. In its prior filing, the firm reported owning 18,231K shares , representing an increase of 1.78%. The firm decreased its portfolio allocation in DOW by 5.25% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 17,133K shares representing 2.44% ownership of the company. In its prior filing, the firm reported owning 16,894K shares , representing an increase of 1.39%. The firm decreased its portfolio allocation in DOW by 4.72% over the last quarter.
Spdr S&p 500 Etf Trust holds 8,733K shares representing 1.24% ownership of the company. In its prior filing, the firm reported owning 7,856K shares , representing an increase of 10.04%. The firm decreased its portfolio allocation in DOW by 4.62% over the last quarter.
FXAIX – Fidelity 500 Index Fund holds 8,412K shares representing 1.20% ownership of the company. In its prior filing, the firm reported owning 8,193K shares , representing an increase of 2.61%. The firm decreased its portfolio allocation in DOW by 3.72% over the last quarter.
Dow Background Information
(This description is provided by the company.)
Dow combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company’s ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company, with a purpose to deliver a sustainable future for the world through its materials science expertise and collaboration with its partners. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer care. Dow operates 106 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately $39 billion in 2020.
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This story originally appeared on Fintel.
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