Dover Corp Given Average Rating of “Buy” by Analysts (NYSE:DOV)
Dover Corp (NYSE:DOV) has received an average rating of “Buy” from the thirteen ratings firms that are currently covering the company, Stock Ratings Network reports. Five analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $90.00.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Dover Corp from $95.00 to $97.00 in a research note on Monday, July 21st. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Dover Corp in a research note on Friday, July 18th. They now have a $91.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Dover Corp in a research note on Friday, July 18th. They now have a $90.00 price target on the stock, up previously from $89.00.
Shares of Dover Corp (NYSE:DOV) opened at 86.06 on Friday. Dover Corp has a 52 week low of $67.7842 and a 52 week high of $91.84. The stock’s 50-day moving average is $88.33 and its 200-day moving average is $83.43. The company has a market cap of $14.333 billion and a price-to-earnings ratio of 17.53.
Dover Corp (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.28 by $0.01. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the company posted $1.38 earnings per share. Dover Corp’s revenue was up 6.0% compared to the same quarter last year. Analysts expect that Dover Corp will post $4.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Wednesday, August 27th. This is an increase from Dover Corp’s previous quarterly dividend of $0.38.
Dover Corporation (NYSE:DOV) manufactures a range of specialized products and components and also offers related services and consumables.
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