Oppenheimer Holdings Comments on Dover Corp.’s FY2016 Earnings (DOV)
Dover Corp. (NYSE:DOV) – Analysts at Oppenheimer Holdings reduced their FY2016 earnings per share (EPS) estimates for shares of Dover Corp. in a research report issued to clients and investors on Monday. Oppenheimer Holdings analyst J. Giannakouros now anticipates that the firm will earn $2.89 per share for the year, down from their prior forecast of $3.24. Oppenheimer Holdings also issued estimates for Dover Corp.’s FY2017 earnings at $3.60 EPS.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Dover Corp. from a “hold” rating to a “strong sell” rating in a research report on Thursday. Barclays PLC upped their price target on shares of Dover Corp. from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Monday, July 18th. Susquehanna began coverage on shares of Dover Corp. in a research report on Friday, October 7th. They set a “neutral” rating and a $77.00 price target for the company. Citigroup Inc. reduced their price target on shares of Dover Corp. from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Dover Corp. in a research report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. Dover Corp. presently has a consensus rating of “Hold” and an average target price of $72.19.
Shares of Dover Corp. (NYSE:DOV) opened at 66.64 on Wednesday. The company has a market cap of $10.34 billion, a P/E ratio of 19.17 and a beta of 1.25. The stock’s 50 day moving average is $70.80 and its 200 day moving average is $69.12. Dover Corp. has a 1-year low of $50.91 and a 1-year high of $74.90.
Dover Corp. (NYSE:DOV) last announced its quarterly earnings data 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 firm earned $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.44 per share. 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 dividend on an annualized basis and a yield of 2.64%. Dover Corp.’s dividend payout ratio is 50.29%.
In other Dover Corp. news, VP Paul Goldberg sold 1,800 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $72.13, for a total transaction of $129,834.00. Following the sale, the vice president now directly owns 11,778 shares in the company, valued at approximately $849,547.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP C. Anderson Fincher sold 1,420 shares of the stock in a transaction that occurred 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. Company insiders own 2.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Mizuho Asset Management Co. Ltd. raised its stake in Dover Corp. by 65.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,038 shares of the company’s stock worth $141,000 after buying an additional 803 shares during the period. Tower Research Capital LLC TRC acquired a new stake in Dover Corp. during the second quarter worth about $143,000. Hallmark Capital Management Inc. acquired a new stake in Dover Corp. during the second quarter worth about $149,000. Feltz Wealth PLAN Inc. acquired a new stake in Dover Corp. during the second quarter worth about $150,000. Finally, Trust Department MB Financial Bank N A raised its stake in Dover Corp. by 67.0% in the second quarter. Trust Department MB Financial Bank N A now owns 2,567 shares of the company’s stock worth $180,000 after buying an additional 1,030 shares during the period. Institutional investors 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.