Dover Corp. (DOV) Set to Announce Earnings on Wednesday
Dover Corp. (NYSE:DOV) is set to post its quarterly earnings results on Wednesday, October 19th. Dover Corp. has set its FY16 guidance at $3.35-3.45 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.
Dover Corp. (NYSE:DOV) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.85 by $0.09. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts expect Dover Corp. to post $3.34 EPS for the current fiscal year and $3.93 EPS for the next fiscal year.
Dover Corp. (NYSE:DOV) opened at 67.62 on Tuesday. Dover Corp. has a 52-week low of $50.91 and a 52-week high of $74.90. The company’s 50 day moving average is $70.46 and its 200 day moving average is $69.24. The firm has a market cap of $10.50 billion, a P/E ratio of 19.45 and a beta of 1.25.
A number of research analysts recently commented on DOV shares. Zacks Investment Research downgraded shares of Dover Corp. from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 13th. Susquehanna assumed coverage on shares of Dover Corp. in a research report on Friday, October 7th. They set a “neutral” rating and a $77.00 price objective on the stock. Bank of America Corp. reissued a “buy” rating and set a $85.00 price objective on shares of Dover Corp. in a research report on Thursday, October 6th. Sanford C. Bernstein reissued an “outperform” rating on shares of Dover Corp. in a research report on Monday, June 27th. Finally, Citigroup Inc. lowered their price objective on shares of Dover Corp. from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 11th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $72.19.
In other Dover Corp. news, CEO Robert Livingston sold 25,927 shares of Dover Corp. stock in a transaction dated 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 completion of the transaction, the chief executive officer now 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 accessible through this hyperlink. Also, VP C. Anderson Fincher sold 1,420 shares of Dover Corp. stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $73.42, for a total transaction of $104,256.40. Following the transaction, the vice president now owns 40,326 shares of the company’s stock, valued at approximately $2,960,734.92. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in Dover Corp. by 0.7% in the second quarter. BlackRock Inc. now owns 599,135 shares of the company’s stock worth $41,532,000 after buying an additional 4,013 shares in the last quarter. BlackRock Fund Advisors raised its position in Dover Corp. by 1.2% in the second quarter. BlackRock Fund Advisors now owns 2,460,830 shares of the company’s stock worth $170,585,000 after buying an additional 30,342 shares in the last quarter. BlackRock Group LTD raised its position in Dover Corp. by 1.6% in the second quarter. BlackRock Group LTD now owns 1,254,377 shares of the company’s stock worth $86,955,000 after buying an additional 20,232 shares in the last quarter. Segall Bryant & Hamill LLC raised its position in Dover Corp. by 4.1% in the second quarter. Segall Bryant & Hamill LLC now owns 26,488 shares of the company’s stock worth $1,836,000 after buying an additional 1,032 shares in the last quarter. Finally, BlackRock Japan Co. Ltd raised its position in Dover Corp. by 1.7% in the second quarter. BlackRock Japan Co. Ltd now owns 191,810 shares of the company’s stock worth $13,296,000 after buying an additional 3,209 shares in the last quarter. Institutional investors own 85.56% of the company’s stock.
About Dover Corp.
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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