Dover Corporation (DOV) to Release Earnings on Thursday
Dover Corporation (NYSE:DOV) is set to post its quarterly earnings results before the market opens on Thursday, October 19th. Analysts expect Dover Corporation to post earnings of $1.13 per share for the quarter. Dover Corporation has set its FY17 guidance at $4.23-4.33 EPS.
Dover Corporation (NYSE:DOV) last issued its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. Dover Corporation’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 earnings per share. On average, analysts expect Dover Corporation to post $4.29 EPS for the current fiscal year and $4.52 EPS for the next fiscal year.
Shares of Dover Corporation (DOV) opened at 93.82 on Thursday. The firm has a 50-day moving average price of $89.45 and a 200 day moving average price of $83.81. The stock has a market cap of $14.61 billion, a price-to-earnings ratio of 23.45 and a beta of 1.27. Dover Corporation has a 52 week low of $65.50 and a 52 week high of $94.50.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.47 dividend. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.88 dividend on an annualized basis and a yield of 2.00%. Dover Corporation’s payout ratio is presently 47.12%.
A number of research firms have issued reports on DOV. Zacks Investment Research downgraded Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Morgan Stanley reaffirmed an “overweight” rating and issued a $106.00 price objective (up previously from $97.00) on shares of Dover Corporation in a research note on Monday, October 2nd. BidaskClub downgraded Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $96.00 price objective (up previously from $90.00) on shares of Dover Corporation in a research note on Monday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $87.00 price objective on shares of Dover Corporation in a research note on Thursday, July 6th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Dover Corporation has an average rating of “Hold” and an average target price of $93.58.
In related news, Director Michael B. Stubbs sold 25,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the transaction, the director now owns 275,344 shares in the company, valued at approximately $23,965,941.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is owned by insiders.
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Dover Corporation Company Profile
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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