Dover Corporation (DOV) Forecasted to Post Q4 2017 Earnings of $1.03 Per Share
Dover Corporation (NYSE:DOV) – Equities research analysts at Seaport Global Securities upped their Q4 2017 earnings estimates for Dover Corporation in a report issued on Friday. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will post earnings per share of $1.03 for the quarter, up from their previous estimate of $0.96. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Dover Corporation’s Q1 2018 earnings at $0.82 EPS, Q2 2018 earnings at $1.22 EPS, Q4 2018 earnings at $1.15 EPS and FY2018 earnings at $4.41 EPS.
Other analysts have also issued reports about the company. BMO Capital Markets reissued a “buy” rating and issued a $94.00 price objective on shares of Dover Corporation in a report on Sunday, August 27th. Robert W. Baird set a $91.00 price objective on Dover Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. BidaskClub raised Dover Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research raised Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $91.00 price objective on shares of Dover Corporation in a report on Wednesday, September 6th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $94.23.
Dover Corporation (NYSE:DOV) opened at 94.95 on Monday. The stock has a market cap of $14.79 billion, a P/E ratio of 23.74 and a beta of 1.27. Dover Corporation has a 1-year low of $65.50 and a 1-year high of $95.19. The company’s 50-day moving average price is $91.26 and its 200-day moving average price is $84.48.
Dover Corporation (NYSE:DOV) last released its quarterly earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. Dover Corporation had a return on equity of 14.40% and a net margin of 8.91%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of the company. APG Asset Management N.V. boosted its position in shares of Dover Corporation by 9.7% during the third quarter. APG Asset Management N.V. now owns 173,387 shares of the industrial products company’s stock worth $15,846,000 after buying an additional 15,400 shares during the period. Asset Advisors Corp boosted its position in shares of Dover Corporation by 1.6% during the third quarter. Asset Advisors Corp now owns 139,240 shares of the industrial products company’s stock worth $12,725,000 after buying an additional 2,150 shares during the period. Farmers & Merchants Investments Inc. boosted its position in shares of Dover Corporation by 0.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 81,529 shares of the industrial products company’s stock worth $7,451,000 after buying an additional 680 shares during the period. Rockefeller Financial Services Inc. boosted its position in shares of Dover Corporation by 1,603.3% during the third quarter. Rockefeller Financial Services Inc. now owns 38,494 shares of the industrial products company’s stock worth $3,518,000 after buying an additional 36,234 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Dover Corporation during the third quarter worth approximately $1,757,000. Institutional investors and hedge funds own 86.01% of the company’s stock.
In other news, Director Michael B. Stubbs sold 25,000 shares of the business’s stock in a transaction that occurred 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 directly owns 275,344 shares in the company, valued at $23,965,941.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.50% of the company’s stock.
About Dover Corporation
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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