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Dow Inc. (DOW) Gains As Market Dips: What You Should Know
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Dow Inc. (DOW - Free Report) closed at $54.89 in the latest trading session, marking a +1.29% move from the prior day. This change outpaced the S&P 500's 0.7% loss on the day. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Prior to today's trading, shares of the materials science had lost 1.49% over the past month. This has lagged the Basic Materials sector's loss of 1.13% and the S&P 500's gain of 0.58% in that time.
Dow Inc. will be looking to display strength as it nears its next earnings release, which is expected to be October 24, 2023. In that report, analysts expect Dow Inc. to post earnings of $0.42 per share. This would mark a year-over-year decline of 62.16%. Our most recent consensus estimate is calling for quarterly revenue of $10.34 billion, down 26.73% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.27 per share and revenue of $43.94 billion. These totals would mark changes of -63.68% and -22.78%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Dow Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.84% lower. Dow Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Dow Inc. is currently trading at a Forward P/E ratio of 23.91. This represents a premium compared to its industry's average Forward P/E of 15.71.
Meanwhile, DOW's PEG ratio is currently 4.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Chemical - Diversified was holding an average PEG ratio of 2.4 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DOW in the coming trading sessions, be sure to utilize Zacks.com.
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Dow Inc. (DOW) Gains As Market Dips: What You Should Know
Dow Inc. (DOW - Free Report) closed at $54.89 in the latest trading session, marking a +1.29% move from the prior day. This change outpaced the S&P 500's 0.7% loss on the day. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Prior to today's trading, shares of the materials science had lost 1.49% over the past month. This has lagged the Basic Materials sector's loss of 1.13% and the S&P 500's gain of 0.58% in that time.
Dow Inc. will be looking to display strength as it nears its next earnings release, which is expected to be October 24, 2023. In that report, analysts expect Dow Inc. to post earnings of $0.42 per share. This would mark a year-over-year decline of 62.16%. Our most recent consensus estimate is calling for quarterly revenue of $10.34 billion, down 26.73% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.27 per share and revenue of $43.94 billion. These totals would mark changes of -63.68% and -22.78%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Dow Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.84% lower. Dow Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Dow Inc. is currently trading at a Forward P/E ratio of 23.91. This represents a premium compared to its industry's average Forward P/E of 15.71.
Meanwhile, DOW's PEG ratio is currently 4.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Chemical - Diversified was holding an average PEG ratio of 2.4 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DOW in the coming trading sessions, be sure to utilize Zacks.com.