Dover Corporation to Post Q3 2017 Earnings of $1.11 Per Share, SunTrust Banks Forecasts (DOV)
Dover Corporation (NYSE:DOV) – Research analysts at SunTrust Banks reduced their Q3 2017 EPS estimates for shares of Dover Corporation in a research note issued to investors on Thursday. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will earn $1.11 per share for the quarter, down from their previous estimate of $1.14. SunTrust Banks has a “Hold” rating and a $90.00 price objective on the stock. SunTrust Banks also issued estimates for Dover Corporation’s FY2017 earnings at $3.91 EPS.
Dover Corporation (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. Dover Corporation’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 earnings per share.
DOV has been the subject of several other research reports. Robert W. Baird set a $91.00 price objective on shares of Dover Corporation and gave the stock a “buy” rating in a report on Thursday, August 24th. BMO Capital Markets restated a “buy” rating and set a $94.00 price objective on shares of Dover Corporation in a report on Sunday, August 27th. Zacks Investment Research upgraded shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Tuesday, July 18th. Citigroup Inc. raised their price objective on shares of Dover Corporation from $88.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Finally, Royal Bank Of Canada restated a “hold” rating and set a $91.00 price objective on shares of Dover Corporation in a report on Wednesday, September 6th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $93.31.
Dover Corporation (NYSE:DOV) opened at 94.48 on Monday. The stock’s 50 day moving average price is $90.16 and its 200 day moving average price is $84.07. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $95.14. The firm has a market capitalization of $14.71 billion, a P/E ratio of 23.62 and a beta of 1.27.
Several hedge funds and other institutional investors have recently modified their holdings of DOV. IFP Advisors Inc increased its stake in shares of Dover Corporation by 15.1% in the second quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock worth $139,000 after buying an additional 227 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Dover Corporation by 5,446.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $143,000 after buying an additional 1,743 shares during the period. Penserra Capital Management LLC increased its stake in shares of Dover Corporation by 13.0% in the second quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock worth $179,000 after buying an additional 258 shares during the period. First Mercantile Trust Co. increased its stake in shares of Dover Corporation by 10.1% in the second quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock worth $187,000 after buying an additional 213 shares during the period. Finally, Harfst & Associates Inc. purchased a new position in shares of Dover Corporation in the first quarter worth $200,000. 86.01% of the stock is currently owned by institutional investors.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of Dover Corporation stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.
Dover Corporation Company Profile
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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