Q3 2016 EPS Estimates for Dover Corp. Lowered by Analyst (DOV)
Dover Corp. (NYSE:DOV) – Equities researchers at Oppenheimer Holdings lowered their Q3 2016 earnings per share estimates for shares of Dover Corp. in a research report issued on Monday. Oppenheimer Holdings analyst J. Giannakouros now forecasts that the firm will earn $0.81 per share for the quarter, down from their prior estimate of $1.00. Oppenheimer Holdings also issued estimates for Dover Corp.’s Q4 2016 earnings at $0.80 EPS.
A number of other equities research analysts have also recently commented on DOV. Zacks Investment Research cut shares of Dover Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Sanford C. Bernstein restated an “outperform” rating on shares of Dover Corp. in a report on Monday, June 27th. Barclays PLC raised their price target on shares of Dover Corp. from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Monday, July 18th. Susquehanna initiated coverage on shares of Dover Corp. in a report on Friday. They set a “neutral” rating and a $77.00 price objective for the company. Finally, Bank of America Corp. reiterated a “buy” rating and set a $85.00 price objective on shares of Dover Corp. in a report on Thursday, October 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. Dover Corp. currently has an average rating of “Hold” and an average target price of $72.63.
Shares of Dover Corp. (NYSE:DOV) traded up 0.862% during trading on Tuesday, hitting $67.265. 1,395,167 shares of the stock traded hands. Dover Corp. has a 1-year low of $50.91 and a 1-year high of $74.90. The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of 19.346 and a beta of 1.25. The firm has a 50-day moving average of $71.41 and a 200-day moving average of $69.17.
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Dover Corp. (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by $0.09. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The firm earned $1.69 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the firm earned $0.98 EPS. Dover Corp.’s quarterly revenue was down 4.1% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.76 annualized dividend and a dividend yield of 2.64%. This is a positive change from Dover Corp.’s previous quarterly dividend of $0.42. Dover Corp.’s payout ratio is 50.29%.
In other news, VP C. Anderson Fincher sold 1,420 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $73.42, for a total value of $104,256.40. Following the sale, the vice president now owns 40,326 shares of the company’s stock, valued at $2,960,734.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP William Spurgeon sold 17,170 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $71.65, for a total transaction of $1,230,230.50. Following the completion of the sale, the vice president now directly owns 59,163 shares in the company, valued at approximately $4,239,028.95. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of DOV. Mizuho Asset Management Co. Ltd. boosted its position in shares of Dover Corp. by 65.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,038 shares of the company’s stock valued at $141,000 after buying an additional 803 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Dover Corp. during the second quarter valued at approximately $143,000. Hallmark Capital Management Inc. purchased a new position in shares of Dover Corp. during the second quarter valued at approximately $149,000. Feltz Wealth PLAN Inc. purchased a new position in shares of Dover Corp. during the second quarter valued at approximately $150,000. Finally, Trust Department MB Financial Bank N A boosted its position in shares of Dover Corp. by 67.0% in the second quarter. Trust Department MB Financial Bank N A now owns 2,567 shares of the company’s stock valued at $180,000 after buying an additional 1,030 shares in the last quarter. 85.59% of the stock is currently owned by institutional investors.
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.
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