Dover Corp. Receives Hold Rating from Credit Suisse (DOV)
Dover Corp. (NYSE:DOV)‘s stock had its “hold” rating restated by analysts at Credit Suisse in a research report issued to clients and investors on Friday. They currently have a $84.00 price objective on the stock. Credit Suisse’s price objective suggests a potential downside of 3.46% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Dover Corp. in a research note on Tuesday. They now have a $100.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Dover Corp. in a research note on Tuesday. They now have a $49.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Dover Corp. in a research note on Monday, April 21st. They now have a $90.00 price target on the stock. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $89.00.
Dover Corp. (NYSE:DOV) traded up 1.16% during mid-day trading on Friday, 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 issued its quarterly earnings data on Thursday, April 17th. The company reported $1.01 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.10 earnings per share. Dover Corp.’s revenue was up 6.8% compared to the same quarter last year. Analysts expect that Dover Corp. will post $4.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, May 28th.
In other Dover Corp. news, VP Sivasankaran Somasundaram unloaded 4,000 shares of the stock 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Dover Corporation (NYSE:DOV) manufactures a range of specialized products and components and also offers related services and consumables.
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