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Dow Inc’s stock reached a 52-week low, closing at 22.86 USD, marking a 59% decline from its 52-week high of 55.67 USD. According to InvestingPro data, the company maintains a notable 6% dividend yield, though 10 analysts have recently revised their earnings expectations downward. This marks a significant downturn for the company, as its stock has seen a 55.78% decrease over the past year. The chemical manufacturing giant has faced challenges amid fluctuating market conditions, impacting its share price. The 52-week low highlights ongoing investor concerns and market volatility affecting Dow Inc’s performance. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional exclusive insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, Dow Inc. has experienced several significant developments. The company announced a 50% reduction in its quarterly dividend, setting the new payout at 35 cents per share, due to ongoing challenging macroeconomic conditions and a prolonged industry downturn. Additionally, Fitch Ratings downgraded Dow Inc. and Dow Chemical (NYSE:DOW) Company’s Long-Term Issuer Default Rating to ’BBB’ from ’BBB+’ with a Stable outlook, citing weak operating performance, high leverage, and negative free cash flow.
Analyst firms have also adjusted their outlooks on Dow. Evercore ISI downgraded the stock from Outperform to In Line, reducing its price target to $32.00 from $56.00, amid concerns about the company’s outlook following the dividend cut. RBC Capital lowered its price target to $26.00 from $30.00, maintaining a Sector Perform rating, and expressed doubts about the company’s optimistic polyethylene price assumptions. BMO Capital decreased its price target to $20.00 from $22.00, keeping an Underperform rating due to a weak petrochemical market and uncertainty about stabilization. These recent developments reflect the ongoing challenges Dow faces in the current market environment.
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