Specialty chemicals maker The Dow Chemical Company (DOW) said Tuesday that it swung to a fourth-quarter profit, helped by higher sales in emerging markets.
The Midland, Michigan-based company reported fourth-quarter net income of $87 million, or eight cents per share, compared to a net loss of $1.55 billion, or $1.68 per share, in the year-ago period. Excluding one-time items, adjusted profit was 18 cents per share.
Revenue jumped 15% from last year, to $12.5 billion.
On average, Wall Street analysts expected a smaller profit of 11 cents per share, on lower revenue of $11.81 billion.
Dow Chemical shares fell 63 cents, or 2.2%, in premarket trading Tuesday.
The Bottom Line
Some experts removed shares of DOW from their "recommended" lists last fall, when the stock was trading at $33.97. The company has a 1.26% dividend yield, based on last night’s closing stock price of $28.63. The stock has technical support in the $24-$27 price area.
If the shares can continue the recent momentum, some overhead resistance can be seen around the $30-$32 price levels. But many experts would remain on the sidelines for now.
The Dow Chemical Company (DOW) is not recommended at this time, holding a Dividend.com DARS Rating of 3.3 out of 5 stars.
