Market Update: The Dow Chemical Company (NYSE:DOW) – DuPont expects SEC review of Dow deal to end by June 30

[Reuters] – DuPont said on Tuesday it expected the U.S. Securities and Exchange Commission’s review of its proposed merger with Dow Chemical Co to be completed by the end of June. “We are shooting for October-November kind of close of the transaction,” DuPont Chief Executive Edward Breen said on a post-earnings call. “Everything with the merger with Dow is right along the track we thought it would be … filings in jurisdictions around the world have happened on the schedule we needed,” he told Reuters. Read more on this. The Dow Chemical Company (DOW) , currently valued at $60.32B, started trading this morning at $53.00. A quick look at the market, the company’s stock traded between $52.97 and $53.88 with a one year range of $35.11 to $57.10. DOW shares are currently priced at 15.23x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.43x earnings multiple for the same period. And for income investors, the company pays shareholders $1.84 per share annually in dividends, yielding 3.50%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $0.83 per share, which would be $0.01 worse than the year-ago quarter and a $0.04 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $3.45, which would be a $0.02 worse when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $10.66 Billion. If reported, that would be a 13.82% decrease over the year-ago quarter. More recently, Susquehanna upgraded DOW from Neutral to Positive (Feb 8, 2016). Previously, RBC Capital Mkts upgraded DOW from Outperform to Top Pick. Given all the information above, we should disclose to readers that the average price target is $56.12, which is 5.89% above than it opened this morning. See more in (NYSE:DOW) Similar Articles: Market Update: E I du Pont de Nemours and Company (NYSE:DD) – DuPont expects SEC review of Dow deal to end by June 30 Company Update: The Dow Chemical Company (NYSE:DOW) – DuPont says U.S. regulator needs additional time to review Dow merger Market Update: The Dow Chemical Company (NYSE:DOW) – DuPont, Dow Announce Site Structure Of Intended Independent Agriculture Company
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