Dover Corp. Expected to Post Q3 2016 Earnings of $0.83 Per Share (DOV)
Dover Corp. (NYSE:DOV) – Stock analysts at Seaport Global Securities reduced their Q3 2016 EPS estimates for shares of Dover Corp. in a research note issued on Monday. Seaport Global Securities analyst W. Liptak now expects that the firm will earn $0.83 per share for the quarter, down from their previous forecast of $1.01. Seaport Global Securities also issued estimates for Dover Corp.’s Q1 2017 earnings at $0.64 EPS, Q3 2017 earnings at $0.99 EPS, Q4 2017 earnings at $0.93 EPS and FY2017 earnings at $3.50 EPS.
Dover Corp. (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.09. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business earned $0.98 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis.
DOV has been the topic of several other reports. Zacks Investment Research cut Dover Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Sanford C. Bernstein reissued an “outperform” rating on shares of Dover Corp. in a research note on Monday, June 27th. Bank of America Corp. reissued a “buy” rating and set a $85.00 price objective on shares of Dover Corp. in a research note on Thursday, October 6th. Susquehanna began coverage on Dover Corp. in a research note on Friday, October 7th. They set a “neutral” rating and a $77.00 price objective on the stock. Finally, Citigroup Inc. cut their target price on Dover Corp. from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. Dover Corp. currently has a consensus rating of “Hold” and a consensus price target of $72.19.
Dover Corp. (NYSE:DOV) opened at 67.29 on Tuesday. The company’s 50-day moving average price is $71.00 and its 200-day moving average price is $69.14. Dover Corp. has a 52-week low of $50.91 and a 52-week high of $74.90. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 19.35 and a beta of 1.25.
Several institutional investors have recently added to or reduced their stakes in DOV. Shinko Asset Management Co. Ltd. increased its position in Dover Corp. by 0.6% in the second quarter. Shinko Asset Management Co. Ltd. now owns 4,247 shares of the company’s stock valued at $294,000 after buying an additional 25 shares during the last quarter. Archford Capital Strategies LLC increased its stake in shares of Dover Corp. by 0.4% in the second quarter. Archford Capital Strategies LLC now owns 11,957 shares of the company’s stock valued at $829,000 after buying an additional 44 shares in the last quarter. Ngam Advisors L.P. increased its stake in shares of Dover Corp. by 0.5% in the second quarter. Ngam Advisors L.P. now owns 12,291 shares of the company’s stock valued at $852,000 after buying an additional 59 shares in the last quarter. Phocas Financial Corp. increased its stake in shares of Dover Corp. by 0.6% in the first quarter. Phocas Financial Corp. now owns 13,496 shares of the company’s stock valued at $868,000 after buying an additional 85 shares in the last quarter. Finally, Peachtree Investment Advisors Inc. increased its stake in shares of Dover Corp. by 0.5% in the second quarter. Peachtree Investment Advisors Inc. now owns 20,180 shares of the company’s stock valued at $1,399,000 after buying an additional 95 shares in the last quarter. 85.59% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Paul Goldberg sold 1,800 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $72.13, for a total value of $129,834.00. Following the transaction, the vice president now directly owns 11,778 shares of the company’s stock, valued at approximately $849,547.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP C. Anderson Fincher sold 1,420 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $73.42, for a total value of $104,256.40. Following the completion of the transaction, the vice president now directly 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 owned by corporate insiders.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.62%. This is an increase from Dover Corp.’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, August 29th. Dover Corp.’s dividend payout ratio is presently 50.29%.
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.
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