Company Update: The Dow Chemical Company (NYSE:DOW) – Dow Announces Start-Up of New Texas Propylene Production Facility

[Business Wire] – The Dow Chemical Company today announced its new world-scale propane dehydrogenation unit located at the Company’s Oyster Creek site in Freeport, Texas, has begun commercial operations. Read more on this. The Dow Chemical Company (DOW) , with a current market cap of $58.23B, started trading this morning at $50.25. Looking at today’s trading action, the company’s one day range from $50.04 to $56.58 with a one year range of $35.11 to $57.10. DOW shares are currently priced at 15.32x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 29.69x forward p/e ratio. And for income investors, the company pays shareholders $1.84 per share annually in dividends, yielding 3.64%. In a review of the consensus earnings estimate this quarter, 20 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. The full-year EPS estimate is $3.28 which would be a $0.17 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $11.27 Billion. If realized, that would be a 21.63% decrease over the year-ago quarter. Recently, Deutsche Bank upgraded DOW from Hold to Buy (Oct 23, 2014). Previously, RBC Capital Mkts Initiated DOW at to Outperform. Given all the information above, we should disclose to readers that the average price target is $58.44, which is 16.30% above than it opened this morning. See more in (NYSE:DOW) Similar Articles: Stock Update: The Dow Chemical Company (NYSE:DOW) – Dow Announces a New ‘Star’ in High Performance Resins for Packaging Markets: INNATE™ Precision Packaging Resins Stock Update: The Dow Chemical Company (NYSE:DOW) – CORRECTING and REPLACING Dow Announces Final Proration Factor of 21.00 Percent for Shares Tendered in Split-Off Exchange Offer Market Update: The Dow Chemical Company (NYSE:DOW) – Dow Announces Preliminary Results of Exchange Offer for Chlorine Value Chain Business