Dover Corp (DOV) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Dover Corp (NYSE:DOV) released its earnings results on Thursday. The industrial products company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.05, Bloomberg Earnings reports. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Dover Corp had a return on equity of 17.19% and a net margin of 8.92%. The business’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. Dover Corp updated its FY17 guidance to $4.23-4.33 EPS.
Dover Corp (NYSE DOV) traded up 3.30% during midday trading on Friday, reaching $92.45. The company’s stock had a trading volume of 394,406 shares. The firm has a 50 day moving average price of $90.98 and a 200 day moving average price of $84.38. Dover Corp has a 1-year low of $65.50 and a 1-year high of $95.14. The firm has a market capitalization of $14.40 billion, a PE ratio of 23.11 and a beta of 1.27.
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 value of $2,176,000.00. Following the sale, the director now owns 275,344 shares of the company’s stock, valued at approximately $23,965,941.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.50% of the stock is owned by insiders.
Several equities analysts have recently commented on DOV shares. BidaskClub cut Dover Corp from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $90.00 price objective (up from $89.00) on shares of Dover Corp in a research note on Thursday, July 6th. Stifel Nicolaus restated a “hold” rating and set a $87.00 price objective on shares of Dover Corp in a research note on Thursday, July 6th. Zacks Investment Research upgraded Dover Corp from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Tuesday, July 18th. Finally, Citigroup Inc. raised their price objective on Dover Corp from $88.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Dover Corp currently has a consensus rating of “Hold” and a consensus price target of $94.23.
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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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