Dover Corp. Coverage Initiated at Ascendiant Capital Markets (DOV)
Ascendiant Capital Markets started coverage on shares of Dover Corp. (NYSE:DOV) in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $78.00 price target on the stock. Ascendiant Capital Markets’ price objective indicates a potential downside of 10.36% from the company’s current price.
In other Dover Corp. news, VP Sivasankaran Somasundaram sold 4,000 shares of the stock on the open market in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $86.81, for a total transaction of $347,240.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Dover Corp. (NYSE:DOV) traded up 1.16% during mid-day trading on Monday, hitting $87.01. 514,728 shares of the company’s stock traded hands. Dover Corp. has a 52 week low of $62.722 and a 52 week high of $87.39. The stock’s 50-day moving average is $85.06 and its 200-day moving average is $79.04. The company has a market cap of $14.486 billion and a P/E ratio of 15.57.
Dover Corp. (NYSE:DOV) last released its earnings data on Thursday, April 17th. The company reported $1.01 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.03 by $0.02. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts expect that Dover Corp. will post $4.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, May 28th.
Dover Corporation (NYSE:DOV) manufactures a range of specialized products and components and also offers related services and consumables.
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