SunTrust Banks Weighs in on Dover Corp.’s Q4 2016 Earnings (DOV)
Dover Corp. (NYSE:DOV) – Stock analysts at SunTrust Banks lowered their Q4 2016 earnings estimates for Dover Corp. in a report issued on Monday. SunTrust Banks analyst C. Brady now anticipates that the brokerage will earn $0.81 per share for the quarter, down from their prior forecast of $0.94. SunTrust Banks also issued estimates for Dover Corp.’s Q1 2017 earnings at $0.72 EPS, Q2 2017 earnings at $0.92 EPS, Q4 2017 earnings at $0.92 EPS and FY2017 earnings at $3.54 EPS.
A number of other equities research analysts also recently issued reports on DOV. Citigroup Inc. decreased their price target on shares of Dover Corp. from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 11th. Zacks Investment Research downgraded shares of Dover Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Dover Corp. in a research note on Monday, June 27th. Barclays PLC upped 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, Susquehanna assumed coverage on shares of Dover Corp. in a research note on Friday, October 7th. They set a “neutral” rating and a $77.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $72.19.
Shares of Dover Corp. (NYSE:DOV) remained flat at $67.62 on Tuesday. 537,271 shares of the stock were exchanged. The firm has a market cap of $10.50 billion, a P/E ratio of 19.45 and a beta of 1.25. The stock’s 50 day moving average price is $70.46 and its 200-day moving average price is $69.24. Dover Corp. has a one year low of $50.91 and a one year high of $74.90.
Dover Corp. (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by $0.09. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business earned $0.98 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis.
In other Dover Corp. news, CEO Robert Livingston sold 25,927 shares of the 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 transaction, the chief executive officer now directly owns 192,630 shares in the company, valued at approximately $13,337,701.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William Spurgeon sold 17,170 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $71.65, for a total transaction of $1,230,230.50. Following the transaction, the vice president now owns 59,163 shares in the company, valued at $4,239,028.95. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors Inc. boosted its position in shares of Dover Corp. by 20.8% in the first quarter. Teachers Advisors Inc. now owns 257,778 shares of the company’s stock valued at $16,583,000 after buying an additional 44,337 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Dover Corp. by 0.4% in the first quarter. Prudential Financial Inc. now owns 217,305 shares of the company’s stock valued at $13,979,000 after buying an additional 900 shares during the last quarter. ING Groep NV acquired a new position in shares of Dover Corp. during the first quarter valued at about $227,000. Aviva PLC boosted its position in shares of Dover Corp. by 1.0% in the first quarter. Aviva PLC now owns 79,853 shares of the company’s stock valued at $5,137,000 after buying an additional 817 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Dover Corp. during the first quarter valued at about $217,000. 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.
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.