Dover Corp. (DOV) Set to Announce Earnings on Wednesday
Dover Corp. (NYSE:DOV) is set to issue its quarterly earnings data on Wednesday, October 19th. Dover Corp. has set its FY16 guidance at $3.35-3.45 EPS.Parties that wish to listen to the company’s conference call can do so using this link.
Dover Corp. (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by $0.09. The firm earned $1.69 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $0.98 EPS. On average, analysts expect Dover Corp. to post $3.34 EPS for the current fiscal year and $3.93 EPS for the next fiscal year.
Dover Corp. (NYSE:DOV) opened at 67.62 on Tuesday. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of 19.45 and a beta of 1.25. Dover Corp. has a 52-week low of $50.91 and a 52-week high of $74.90. The stock has a 50 day moving average of $70.46 and a 200-day moving average of $69.24.
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DOV has been the topic of several research analyst reports. Bank of America Corp. restated a “buy” rating and issued a $85.00 price objective on shares of Dover Corp. in a research note on Thursday, October 6th. Zacks Investment Research downgraded shares of Dover Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Susquehanna initiated coverage on shares of Dover Corp. in a research note on Friday, October 7th. They issued a “neutral” rating and a $77.00 price objective on the stock. Barclays PLC set a $68.00 price objective on shares of Dover Corp. and gave the stock a “hold” rating in a research note on Tuesday, October 11th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Dover Corp. in a research note on Monday, June 27th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $72.19.
In related news, VP C. Anderson Fincher sold 1,420 shares of Dover Corp. 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 completion of the sale, the vice president now directly owns 40,326 shares in the company, valued at $2,960,734.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP William Spurgeon sold 17,170 shares of Dover Corp. stock in a transaction dated Thursday, July 28th. The stock was 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 owns 59,163 shares of the company’s stock, valued at $4,239,028.95. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Atlantic Trust Group LLC purchased a new stake in shares of Dover Corp. during the second quarter worth approximately $923,000. Canada Pension Plan Investment Board raised its stake in shares of Dover Corp. by 9.8% in the second quarter. Canada Pension Plan Investment Board now owns 15,712 shares of the company’s stock worth $1,089,000 after buying an additional 1,400 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Dover Corp. by 19.2% in the second quarter. HighTower Advisors LLC now owns 20,098 shares of the company’s stock worth $1,399,000 after buying an additional 3,238 shares during the last quarter. Advisor Partners LLC purchased a new stake in shares of Dover Corp. during the second quarter worth approximately $201,000. Finally, Tredje AP fonden raised its stake in shares of Dover Corp. by 1,572.6% in the second quarter. Tredje AP fonden now owns 14,552 shares of the company’s stock worth $1,009,000 after buying an additional 13,682 shares during the last quarter. Hedge funds and other institutional investors own 85.56% of the company’s stock.
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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