Q4 2016 EPS Estimates for Dover Corp. (DOV) Cut by Analyst
Dover Corp. (NYSE:DOV) – Stock analysts at Seaport Global Securities cut their Q4 2016 EPS estimates for shares of Dover Corp. in a research note issued to investors on Monday. Seaport Global Securities analyst W. Liptak now anticipates that the brokerage will earn $0.82 per share for the quarter, down from their prior estimate of $0.96. Seaport Global Securities also issued estimates for Dover Corp.’s Q2 2017 earnings at $0.95 EPS.
Several other research firms have also weighed in on DOV. Susquehanna began coverage on shares of Dover Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $77.00 price objective for the company. Bank of America Corp. reaffirmed a “buy” rating and set a $85.00 price objective on shares of Dover Corp. in a report on Thursday, October 6th. Zacks Investment Research lowered shares of Dover Corp. from a “buy” rating to a “hold” rating in a report on Thursday, October 6th. Barclays PLC increased their price target on shares of Dover Corp. from $65.00 to $71.00 and gave the company an “equal weight” rating in a research note on Monday, July 18th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Dover Corp. in a research note on Monday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.19.
Shares of Dover Corp. (NYSE:DOV) traded up 0.61% during mid-day trading on Wednesday, reaching $67.32. 926,084 shares of the company’s stock traded hands. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 19.36 and a beta of 1.25. The company’s 50 day moving average is $71.20 and its 200-day moving average is $69.15. Dover Corp. has a 52 week low of $50.91 and a 52 week high of $74.90.
Dover Corp. (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.09. The company earned $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. Dover Corp.’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, August 29th. This is a positive change from Dover Corp.’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 2.63%. Dover Corp.’s dividend payout ratio (DPR) is 50.29%.
In related news, CEO Robert Livingston sold 25,927 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $69.24, for a total transaction of $1,795,185.48. Following the sale, the chief executive officer now directly owns 192,630 shares in the company, valued at $13,337,701.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP C. Anderson Fincher sold 1,420 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $73.42, for a total transaction of $104,256.40. Following the sale, the vice president now owns 40,326 shares in the company, valued at $2,960,734.92. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. British Columbia Investment Management Corp raised its stake in shares of Dover Corp. by 19.3% in the third quarter. British Columbia Investment Management Corp now owns 117,739 shares of the company’s stock worth $8,670,000 after buying an additional 19,084 shares during the last quarter. Reilly Herbert Faulkner III raised its stake in shares of Dover Corp. by 7.0% in the third quarter. Reilly Herbert Faulkner III now owns 40,336 shares of the company’s stock worth $2,970,000 after buying an additional 2,641 shares during the last quarter. Oliver Luxxe Assets LLC bought a new stake in shares of Dover Corp. during the third quarter worth approximately $869,000. Peachtree Investment Advisors Inc. raised its stake in shares of Dover Corp. by 0.5% in the third quarter. Peachtree Investment Advisors Inc. now owns 20,280 shares of the company’s stock worth $1,493,000 after buying an additional 100 shares during the last quarter. Finally, Williams Jones & Associates LLC raised its stake in shares of Dover Corp. by 1.0% in the second quarter. Williams Jones & Associates LLC now owns 1,407,465 shares of the company’s stock worth $97,565,000 after buying an additional 14,388 shares during the last quarter. Institutional investors and hedge funds own 85.59% of the company’s stock.
Dover Corp. Company Profile
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.
Receive News & Stock Ratings for Dover Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corp. and related stocks with our FREE daily email newsletter.