Zacks: Analysts Expect Dover Corp (DOV) Will Post Earnings of $0.99 Per Share
Equities research analysts expect Dover Corp (NYSE:DOV) to report $0.99 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Dover Corp’s earnings. The highest EPS estimate is $1.03 and the lowest is $0.91. Dover Corp posted earnings of $0.87 per share during the same quarter last year, which would indicate a positive year over year growth rate of 13.8%. The firm is scheduled to issue its next earnings results on Thursday, July 20th.
On average, analysts expect that Dover Corp will report full year earnings of $3.82 per share for the current year, with EPS estimates ranging from $3.70 to $4.12. For the next financial year, analysts anticipate that the business will report earnings of $4.34 per share, with EPS estimates ranging from $4.15 to $4.61. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Dover Corp.
Dover Corp (NYSE:DOV) last released its earnings results on Thursday, April 20th. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.48. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Dover Corp had a net margin of 7.49% and a return on equity of 12.35%. Dover Corp’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS.
A number of analysts have commented on the company. CIBC reiterated a “hold” rating on shares of Dover Corp in a research report on Wednesday. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Dover Corp in a research report on Tuesday. Citigroup Inc raised their price objective on Dover Corp from $84.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 11th. BMO Capital Markets assumed coverage on Dover Corp in a research report on Wednesday, February 22nd. They issued a “market perform” rating and a $82.00 price objective for the company. Finally, Morgan Stanley upgraded Dover Corp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $85.00 to $90.00 in a research report on Monday, April 3rd. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $84.55.
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Dover Corp (NYSE:DOV) traded up 0.54% during mid-day trading on Friday, reaching $82.29. 539,372 shares of the company were exchanged. The firm has a market capitalization of $12.81 billion, a P/E ratio of 22.24 and a beta of 1.18. The stock has a 50-day moving average of $80.19 and a 200 day moving average of $77.79. Dover Corp has a 1-year low of $63.93 and a 1-year high of $84.40.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, May 26th. This represents a $1.76 dividend on an annualized basis and a yield of 2.14%. Dover Corp’s dividend payout ratio is 53.99%.
In related news, VP William Spurgeon sold 7,864 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $81.25, for a total transaction of $638,950.00. Following the completion of the sale, the vice president now directly owns 39,155 shares of the company’s stock, valued at approximately $3,181,343.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP C. Anderson Fincher sold 15,638 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $79.85, for a total value of $1,248,694.30. Following the sale, the vice president now directly owns 32,842 shares of the company’s stock, valued at $2,622,433.70. The disclosure for this sale can be found here. Insiders have sold a total of 83,502 shares of company stock valued at $6,822,444 over the last ninety days. Insiders own 2.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. First Bank & Trust boosted its stake in Dover Corp by 15.5% in the first quarter. First Bank & Trust now owns 1,326 shares of the industrial products company’s stock valued at $106,000 after buying an additional 178 shares during the period. FNY Partners Fund LP purchased a new stake in Dover Corp during the fourth quarter valued at approximately $112,000. Johnson Financial Group Inc. boosted its stake in Dover Corp by 2.6% in the fourth quarter. Johnson Financial Group Inc. now owns 1,556 shares of the industrial products company’s stock valued at $117,000 after buying an additional 40 shares during the period. Ledyard National Bank boosted its stake in Dover Corp by 421.1% in the first quarter. Ledyard National Bank now owns 1,485 shares of the industrial products company’s stock valued at $119,000 after buying an additional 1,200 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Dover Corp by 5,446.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $143,000 after buying an additional 1,743 shares during the period. 84.57% of the stock is owned by hedge funds and other institutional investors.
About Dover Corp
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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