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Company Update: The Dow Chemical Company (NYSE:DOW) – DuPont says U.S. regulator needs additional time to review Dow merger

[Reuters] – DuPont said on Wednesday that U.S. regulators need more time to review materials related to its merger with Dow Chemical, according to a filing. DuPont said that the antitrust division of the U.S. Department of Justice notified both companies last week that it needs additional information and materials to assess the merger, a move that extends the review period. The filing with the U.S. Securities and Exchange Commission said that the request would extend the waiting period another 30 days, but it was unclear from the filing what the end date of the review would be. Read more on this. The Dow Chemical Company (DOW) , currently valued at $55.67B, began trading this morning at $49.55. Shares have traded today between $48.95 and $50.00 per share with a trailing 52-week range being $35.11 to $57.10. Dow Chemical (DOW) shares are currently priced at 14.21x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -12.85x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.84 per share annually in dividends, yielding 3.78%. In a review of the consensus earnings estimate this quarter, 20 sell-side analysts are looking at $0.81 per share, which would be $0.03 worse than the year-ago quarter and a $0.09 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.42 would be a $0.05 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $10.59 Billion. If reported, that would be a 14.39% decrease over the year-ago quarter. In terms of ratings, Susquehanna upgraded DOW from Neutral to Positive (Feb 8, 2016). Previously, RBC Capital Mkts upgraded DOW from Outperform to Top Pick. When considering if perhaps the stock is under or overvalued, the average price target is $53.89, which is 8.76% above where the stock opened this morning. See more in (NYSE:DOW) Similar Articles: Market Update: The Dow Chemical Company (NYSE:DOW) – DuPont, Dow Announce Site Structure Of Intended Independent Agriculture Company Company Update (NYSE:DOW): Chemicals – Major Diversified Stocks Review – The Dow Chemical, Huntsman, Air Products and Chemicals, and Praxair Market Update: The Dow Chemical Company (NYSE:DOW) – DuPont layoffs before merger a credit negative for Delaware -Moody’s
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