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Market Update: The Dow Chemical Company (NYSE:DOW) – Dow Chemical settles price-fixing case after Justice Scalia’s death

[Reuters] – Dow Chemical Co agreed to pay $835 million to settle a decade-long lawsuit on price fixing, saying it had less chance of winning its petition at the Supreme Court after the death of Justice Antonin Scalia. The chemicals company was found liable by a federal jury in Kansas in February 2013 in the class-action lawsuit, which alleged Dow had conspired to artificially inflate polyurethane prices. Dow filed a petition in the Supreme Court arguing that the judgment violated class action law in multiple ways, particularly with respect to two rulings authored by Justice Scalia, one in 2011 favoring Wal-Mart Stores Inc and another in 2013 favoring Comcast Corp. Read more on this. The Dow Chemical Company (DOW) , valued at $54.22B, opened this morning at $48.40. A quick look at the market, the company’s stock traded between $48.32 and $48.62 with the price of the stock fluctuating between $35.11 to $57.10 over the last 52 weeks. DOW shares are currently priced at 14.00x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s -15.41x earnings multiple for the same period. And for passive income investors, the company pays shareholders $1.84 per share annually in dividends, yielding 3.84%. According to a consensus of 20 analysts, the earnings estimate of $0.81 per share would be $0.03 worse than the year-ago quarter and a $0.09 sequential decrease. The full-year EPS estimate is $3.42, which would be a $0.05 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $10.59 Billion. If realized, that would be a 14.39% decrease over the year-ago quarter. Recently, Susquehanna upgraded DOW from Neutral to Positive (Feb 8, 2016). Previously, RBC Capital Mkts upgraded DOW from Outperform to Top Pick. With the above information in mind, readers should note that the average price target is $53.89, which is 11.34% above where the stock opened this morning. See more in (NYSE:DOW) Similar Articles: Market Update: The Dow Chemical Company (NYSE:DOW) – Half a Million People Inspired by Dow AgroSciences STEM Outreach Market Update: The Dow Chemical Company (NYSE:DOW) – Dow Delivers Progress on JV Consolidation Commitments Market Update: The Dow Chemical Company (NYSE:DOW) – Seven Dow Technologies Honored By R&D 100 Magazine
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