29.05 0.00 (0.00%)
After hours: 5:16PM EDT
|Bid||29.05 x 800|
|Ask||29.17 x 1200|
|Day's Range||28.81 - 30.16|
|52 Week Range||24.35 - 32.78|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.52 (1.70%)|
|1y Target Est||32.98|
DALLAS , Aug. 23, 2019 /PRNewswire/ -- Cushing ® Asset Management, LP, and Swank Capital, LLC, announce today the upcoming rebalancing of The Cushing ® Energy Supply Chain Index (the "Index") ...
A Sacramento-based company is expanding in the Australian market by getting into the wheat business.
The short history of the new Dow (NYSE:DOW) stock has brought little more than declines. An initial spike after Dow again became a separate company has given away to four months of falling stock prices. Today, it sells near its lowest point since its reintroduction.Source: JHVEPhoto / Shutterstock.com The ongoing trade war with China explains much of the decline. However, the spinoff of the former DowDuPont into Dow, DuPont de Nemours (NYSE:DD) and Corteva (NYSE:CTVA) has left investors with a company structure few seem to understand. Until Dow can simplify the company and resume its previous flow of trade with China, DOW stock will likely continue its descent. DOW Stock Continues to DeclineA little more than a month ago, I turned bullish on DOW stock after having been a bear. While I saw possible headwinds related to the trade war, I figured the low price-to-earnings ratio and the generous dividend made a position in DOW worthwhile.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThen, earnings happened. A revenue miss sent it on a downward journey. The declines continued as two analysts downgraded DOW stock to a sell, both cite weakening global demand as the reason. Today, it trades in the $43 per share range, near its 52-week low. * 10 Undervalued Stocks With Breakout Potential From a certain point of view, this does not change my previous rationale for recommending DOW stock. The forward P/E ratio now stands at 9.6. Moreover, thanks to the lower stock price, the $2.80 per share annual dividend currently yields almost 6.5%. Dow's Problems Go Beyond the Trade WarHowever, other factors have since persuaded me otherwise. As InvestorPlace columnist Bret Kenwell states, free cash flow did not cover the cost of the DOW stock dividend. Furthermore, with the company just having separated itself from DuPont, investors have no dividend history where they can turn.Moreover, investors have struggled with the business model backing up Dow stock since it became separate. Our own Josh Enomoto goes so far as to compare DOW stock to General Electric (NYSE:GE) and 3M (NYSE:MMM). He points out its consumer, industrial and packaging categories as evidence that Dow has become a hodgepodge of different companies without a focused purpose. Between that and the lower revenue tied to the U.S.-China trade war, the selling continues in DOW.In fairness, DOW stock is not the only equity in this industry which has suffered. Peers such as Westlake Chemical (NYSE:WLK) and LyondellBasell Industries (NYSE:LYB) also have fallen to 52-week lows. Furthermore, one has to wonder when the market will finally consider the trade war priced into DOW stock and its peers?For now, DOW continues to fall. Even with a low P/E and a high dividend yield, investors rarely succeed by fighting the herd. Moreover, when it does come time to buy, investors must ponder whether they would prefer DOW stock or one of its peers. For example, LyondellBasell stock sells for only 5.8 times forward earnings. At about 5.8%, it pays a slightly lower but still impressive dividend yield. Also, this dividend has risen for seven straight years, and yes, the company cash flows cover this payout. The Bottom Line on DOW StockDOW stock needs both a cohesive focus and for China trade to begin moving higher. Dow stock has fallen since the company missed revenue for its second quarter. Even a low multiple and a generous dividend yield have not stemmed the decline.To some degree, DOW faces the same issues with China trade as its peers. As a result, these peers also have seen their stocks fall to 52-week lows. However, many investors and analysts struggle to understand how the company works since the spinoff. Moreover, with the lack of a dividend history, investors cannot know whether the payout will remain stable under current market conditions. The fact that it does not generate sufficient cash flows to cover this payout merely casts more doubts.Until investors know DOW stock has priced in trade war concerns, investors should stay away. Also, when it comes time for buyers to return to this industry, the case for buying DOW could appear weak. With LYB stock offering a lower valuation and a more stable dividend, investors may not buy Dow stock at that time either.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks That Could See 100% Gains, If Not More * 11 Stocks Under $10 to Buy Now * 6 China Stocks to Buy on the Dip The post Dow Stock Is Cheap for Too Many Reasons appeared first on InvestorPlace.
Chemicals maker Dow (NYSE:DOW) is the smallest member of the Dow Jones Industrial Average (DJIA) by market value. The blue-chip index weights its members by price, not the traditional market cap weighting scheme, but even by price weighting, Dow stock is the second-smallest member of the Dow Jones Industrial Average.Source: JHVEPhoto / Shutterstock.com That's the good news because Dow stock has recently been repudiated in significant fashion with the U.S.-China trade spat serving as major drag on the shares. While Michigan-based Dow operates in a stodgy industry (chemicals) and probably should be seen as a value name rather than a growth stock, it's a cyclical stock, meaning it's likely not an appropriate holding for conservative investors in the current market environment.Recent price action confirms as much. Year-to-date, Dow stock is one of just seven members of the DJIA that are in the red and one of just four with 2019 losses of 10% or more. Simply put, in price, there is truth, and the truth for Dow stock right now is largely unappealing, particularly with the shares in the midst of a month-to-date slide of 15.17% (as of Aug. 20).InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Marijuana Stocks to Ride High on the Farm Bill Dow is one of three companies spun off from the merged Dow/DuPont company. The others are DuPont de Nemours (NYSE:DD), and Corteva (NYSE:CTVA). Only Corteva is trading higher since the spin-offs.The primary drivers of Dow stock performance from an operating unit standpoint are the company's Performance Materials and Coatings, Industrial Intermediates and Infrastructure and Packaging and Specialty Plastics businesses. They Can't All Be WrongLast month, Dow CEO Jim Fitterling said trade tensions are weighing on consumer confidence, impacting purchases of larger ticket items that Dow makes ingredients for. As a result, the company lowered its 2019 capital expenditures plan to $2 billion from $2.5 billion."What tariffs have done in some businesses is cause a little bit of a pause, a little bit of reluctance…Chinese purchasers to maybe buy American goods," said Fitterling in a Bloomberg TV interview. "That shifts some of the demand around."Fitterling is optimistic a trade deal will get done, he just doesn't see that deal coming to fruition before the end of this year. Without the U.S. and China making nice on trade, it's hard to get involved with a stock like Dow.Additionally, analyst sentiment is sour on Dow stock. While analysts are not right or wrong 100% of the time, there's often similar actions from the sell side in a condensed period of time. Since late July, there have been five downgrades of Dow stock by four different analysts, moves that also included several lower price target revisions.Last week, Bank of America Merrill Lynch analyst Steve Byrne pared his rating on Dow stock to "underperform" from "neutral," his second downgrade of the name in less than a month, while trimming his price target to $41 from $55. Byrn cited "eroding fundamentals" in his downgrade of Dow stock.Thing is, the average price target on Dow stock is just over $56 while the shares closed around $43 on Tuesday, Aug. 20. Make of that what you will, but that could be a sign more bearish price target revisions are coming because analysts like to save face. Bottom Line on DOW StockFor patient, risk-tolerant investors, there are some silver linings with Dow stock. At just 12x forward earnings, the shares are by no means expensive and there is compensation for the risk in the form of a dividend yield north of 6%. That's more than triple what you get on the S&P 500.And there's one more silver lining: some insiders recently bought Dow stock, something they wouldn't be doing if they believed a recession is imminent. After all, insiders only buy their company's shares for one reason: because they think the stock is going up.Todd Shriber doesn't the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks to Ride High on the Farm Bill * 8 Biotech Stocks to Watch After the Q2 Earnings Season * 7 Unusual, Growth-Oriented REITs to Buy for Your Portfolio The post Dow Stock a Downer Until Tariff Talk Subsides appeared first on InvestorPlace.
The chemical industry heavyweight is gone, and DuPont and Dow are officially back -- but very different. Here's how to keep track of the new companies.
Corteva Inc on Thursday raised its revenue growth forecast for 2020 and beyond to a range of 4% to 6%, citing expectations of higher pesticide sales. The company, which had earlier forecast overall revenue growth of 3% to 5%, also raised its revenue growth forecast for its crop protection business to a range of 5% to 7% from a range of 3.5% to 6.5%.
WILMINGTON, Del., Aug. 15, 2019 /PRNewswire/ -- Corteva, Inc. (CTVA) will host a webcast today with investors and industry analysts to share supplemental information on 2019 financial guidance issued on August 1, as well as updates to mid-term financial targets, and perspective on valuation and cash flows. The webcast will be led by Greg Friedman, Executive Vice President and Chief Financial Officer for Corteva. "In building Corteva, we have remained consistent in our commitment to drive sustainable shareholder value by focusing on the execution of levers in our control.
Canonsburg, PA, based Investment company Quaker Capital Investments, LLC (Current Portfolio) buys Range Resources Corp, Corteva Inc, sells T-Mobile US Inc, DuPont de Nemours Inc, Reed's Inc, DISH Network Corp during the 3-months ended 2019Q2, according to the most recent filings of the investment company, Quaker Capital Investments, LLC. Continue reading...
WILMINGTON, Del., Aug. 13, 2019 /PRNewswire/ -- Corteva, Inc. (NYSE: CTVA) announced that it will host a webcast on Thursday, August 15 at 8 a.m. ET. Greg Friedman, Executive Vice President and Chief Financial Officer, will provide supplemental information on the 2019 financial guidance previously provided on August 1 – and on the Company's mid-term financial targets. Following his presentation remarks, Friedman will be joined by Corteva Chief Executive Officer, James C. Collins, Jr., for a moderated Q&A session.
With the second-quarter earnings season in its final stretch, some clear winners and losers have emerged. The five best-performing stocks since the season began around July 19 are (SHW), (TWTR), (CTVA), (NOC), and (TDG) All five beat Wall Street expectations. For Twitter and Corteva, an agricultural chemical company, the rally represents relief.
RBC upgraded shares of two agricultural input providers—Corteva and FMC—to Buy because the weather is so bad in the U.S. it means more demand from farmers down the road.
YANGON, Myanmar, Aug. 7, 2019 /PRNewswire/ -- Pure-play global agriculture leader, Corteva Agriscience (NYSE:CTVA), has officially launched its brand in Myanmar. In conjunction with the brand launch, the company also introduced Zorvec® Encantia® fungicide - a new international award-winning disease control product with a favourable environmental profile - to Myanmar's vegetable farmers. Corteva represents the combined strengths of DuPont Crop Protection, Pioneer and Dow AgroSciences, which listed on the New York Stock Exchange on June 1, 2019, creating a market-shaping, standalone, pure-play agriculture company with leading positions in Seed Technologies, Crop Protection and Digital Agriculture.
Corteva shares jumped 5.9% to $31.25 on Thursday even as it reported quarterly profit was more than halved due to costs related to the DowDuPont breakup. The Wilmington, Del., company, formerly the agricultural unit of DowDuPont, reported second-quarter net income fell to $470 million, or 63 cents a share, from $963 million, or $1.
Pesticide and insecticide maker Corteva Inc's quarterly profit beat estimates as volumes and prices in its international markets rose more than expected, sending its shares up more than 8%. Investors cheered Corteva's upbeat numbers, its first after separation from DowDupont in June, as they were a rare bright spot among agricultural companies that have been hard hit as floods ravaged huge swathes of western Corn Belt states. Chief Executive James Collins, on a post-earnings call with analysts, said the unprecedented market backdrop for the second quarter presented considerable challenges to Corteva's customers and in turn, to the company.
- GAAP earnings per share (EPS) from continuing operations was $0.63 , with operating EPS¹ of $1.42 . - The Company delivered net sales of $5.6 billion , down 3 percent versus the same quarter last year, ...
PFAS, short for per- and polyfluoroalkyl substances, are a group of chemicals, manufactured in the U.S. from the 1940s through roughly the turn of the century, that can harm people’s health, according to the Environmental Protection Agency. States and municipalities are cleaning up sites involved in the manufacture of the chemicals, while governments are pursuing liability suits seeking money from producers. In the first quarter of 2019, 3M (ticker: MMM) took a $548 million charge for litigation, which it said included $235 million for lawsuits related to PFAS.
In his "No-Huddle Offense" segment of Mad Money Tuesday night, Jim Cramer weighed in on Corteva, Inc. , the recent spinoff from DowDuPont . Cramer said there's a lot to like about Corteva. Cramer noted that the combination of bumper crops last year, a trade war this year and flooding in the Midwest, is creating a tough time for farmers and Corteva isn't expected to see great earnings until 2020.
As a Partner to the American Farming Community, Collins Made Clear the Need for Strong Trade Agreements to Support One of the Nation's Most Important Economic Engines WILMINGTON, Del. , July 30, 2019 /PRNewswire/ ...
Wall Street is souring on the new Dow, one of the stand-alone companies that once were part of the chemical giant DowDuPont. Investors aren’t too hot on any of the three.
Digital efforts and product innovation are likely to benefit Corteva's (CVTA) second-quarter 2019 results. Further, it will gain from momentum in the seeds market.