SunTrust Banks Weighs in on Dover Corp.’s Q4 2016 Earnings (DOV)
Dover Corp. (NYSE:DOV) – Research analysts at SunTrust Banks dropped their Q4 2016 EPS estimates for shares of Dover Corp. in a research report issued on Monday. SunTrust Banks analyst C. Brady now expects that the firm will earn $0.81 per share for the quarter, down from their previous forecast of $0.94. SunTrust Banks also issued estimates for Dover Corp.’s Q1 2017 earnings at $0.72 EPS, Q2 2017 earnings at $0.92 EPS, Q4 2017 earnings at $0.92 EPS and FY2017 earnings at $3.54 EPS.
Dover Corp. (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.76 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.09. The firm earned $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 earnings per share.
Several other equities research analysts also recently issued reports on the stock. Bank of America Corp. restated a “buy” rating and set a $85.00 price objective on shares of Dover Corp. in a research report on Thursday, October 6th. Zacks Investment Research downgraded shares of Dover Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Susquehanna initiated coverage on shares of Dover Corp. in a research report on Friday, October 7th. They set a “neutral” rating and a $77.00 price objective for the company. Barclays PLC set a $68.00 price objective on shares of Dover Corp. and gave the stock a “hold” rating in a research report on Tuesday, October 11th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Dover Corp. in a research report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $72.19.
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Shares of Dover Corp. (NYSE:DOV) remained flat at $67.62 on Tuesday. 537,271 shares of the company’s stock were exchanged. The firm has a market capitalization of $10.50 billion, a P/E 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 firm’s 50-day moving average price is $70.46 and its 200 day moving average price is $69.24.
Hedge funds have recently bought and sold shares of the company. Citizens Financial Group Inc RI boosted its stake in Dover Corp. by 1.8% in the first quarter. Citizens Financial Group Inc RI now owns 5,789 shares of the company’s stock worth $372,000 after buying an additional 100 shares during the last quarter. HBK Investments L P bought a new stake in Dover Corp. during the first quarter worth $2,930,000. Geode Capital Management LLC boosted its stake in Dover Corp. by 1.9% in the first quarter. Geode Capital Management LLC now owns 1,269,848 shares of the company’s stock worth $81,526,000 after buying an additional 23,865 shares during the last quarter. Riverhead Capital Management LLC boosted 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 during the last quarter. Finally, Pictet Asset Management Ltd. boosted 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 during the last quarter. 85.56% of the stock is currently owned by hedge funds and other institutional investors.
In other Dover Corp. news, CEO Robert Livingston sold 25,927 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $69.24, for a total transaction of $1,795,185.48. Following the sale, the chief executive officer now owns 192,630 shares of the company’s stock, valued at $13,337,701.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP C. Anderson Fincher sold 1,420 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $73.42, for a total transaction of $104,256.40. Following the sale, the vice president now directly owns 40,326 shares in the company, valued at approximately $2,960,734.92. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
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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