Analysts Double Q2 EPS Estimate to $1.27 Ahead of Thursday's Report
DOW sits 47% above its 52-week low of $20.402.
Summary
Analysts have more than doubled Dow's Q2 earnings estimate to $1.27 per share over the past three months, signaling a sharp improvement in expectations ahead of Thursday's report. The company also filed a €1.1 billion antitrust lawsuit against Clariant in Europe, alleging anticompetitive conduct in the ethylene market—this was reported earlier today. The earnings revision is the fresh catalyst, suggesting the market is pricing in a significant recovery or one-time benefit. With the report imminent, any deviation from the $1.27 consensus could drive a sharp move.
At the time of this announcement, DOW was trading at $30.02 on NYSE in the Manufacturing sector, with a market capitalization of approximately $21.6B. The 52-week trading range was $20.40 to $42.74. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.