Q4 2016 EPS Estimates for Dover Corp. (DOV) Cut by Analyst
Dover Corp. (NYSE:DOV) – Equities researchers at Seaport Global Securities dropped their Q4 2016 earnings estimates for Dover Corp. in a research note issued on Monday. Seaport Global Securities analyst W. Liptak now expects that the firm will post earnings per share of $0.82 for the quarter, down from their prior forecast of $0.96. Seaport Global Securities also issued estimates for Dover Corp.’s Q2 2017 earnings at $0.95 EPS.
Several other brokerages have also recently commented on DOV. Susquehanna assumed coverage on Dover Corp. in a research report on Friday, October 7th. They set a “neutral” rating and a $77.00 price target for the company. Bank of America Corp. restated a “buy” rating and issued a $85.00 target price on shares of Dover Corp. in a report on Thursday, October 6th. Zacks Investment Research cut Dover Corp. from a “buy” rating to a “hold” rating in a report on Thursday, October 6th. Barclays PLC upped their target price on Dover Corp. from $65.00 to $71.00 and gave the company an “equal weight” rating in a report on Monday, July 18th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Dover Corp. in a report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. Dover Corp. presently has an average rating of “Hold” and an average price target of $72.19.
Shares of Dover Corp. (NYSE:DOV) traded up 0.61% during trading on Wednesday, hitting $67.32. The stock had a trading volume of 926,084 shares. The stock has a market cap of $10.45 billion, a price-to-earnings ratio of 19.36 and a beta of 1.25. The company’s 50 day moving average price is $71.20 and its 200 day moving average price is $69.15. Dover Corp. has a 12 month low of $50.91 and a 12 month high of $74.90.
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Dover Corp. (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.85 by $0.09. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 EPS.
A number of large investors have recently bought and sold shares of the stock. Riverhead Capital Management LLC raised its stake in Dover Corp. by 126.5% in the first quarter. Riverhead Capital Management LLC now owns 79,336 shares of the company’s stock worth $5,105,000 after buying an additional 44,312 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in Dover Corp. by 3.0% in the first quarter. Pictet Asset Management Ltd. now owns 89,544 shares of the company’s stock worth $5,443,000 after buying an additional 2,600 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Dover Corp. during the first quarter worth about $402,000. Rafferty Asset Management LLC bought a new stake in Dover Corp. during the first quarter worth about $3,185,000. Finally, Credit Agricole S A raised its stake in Dover Corp. by 11.2% in the first quarter. Credit Agricole S A now owns 116,349 shares of the company’s stock worth $7,485,000 after buying an additional 11,708 shares in the last quarter. 85.59% of the stock is currently owned by institutional investors.
In other Dover Corp. news, VP C. Anderson Fincher sold 1,420 shares of the stock in a transaction dated Wednesday, August 10th. The stock was 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 approximately $2,960,734.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William Spurgeon sold 17,170 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $71.65, for a total value 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 owned by company insiders.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders 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 dividend on an annualized basis and a yield of 2.63%. This is a positive change from Dover Corp.’s previous quarterly dividend of $0.42. Dover Corp.’s dividend payout ratio (DPR) is currently 50.29%.
Dover Corp. Company Profile
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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