Dover Corporation Expected to Post Q1 2018 Earnings of $0.85 Per Share (DOV)
Dover Corporation (NYSE:DOV) – Research analysts at William Blair issued their Q1 2018 earnings per share (EPS) estimates for shares of Dover Corporation in a research note issued on Thursday. William Blair analyst N. Heymann forecasts that the industrial products company will earn $0.85 per share for the quarter. William Blair also issued estimates for Dover Corporation’s Q2 2018 earnings at $1.17 EPS, Q3 2018 earnings at $1.19 EPS, Q4 2018 earnings at $1.14 EPS and FY2018 earnings at $4.35 EPS.
Dover Corporation (NYSE:DOV) last announced its earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.99 billion. Dover Corporation had a return on equity of 14.40% and a net margin of 8.91%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 EPS.
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DOV has been the topic of several other reports. Robert W. Baird set a $91.00 price objective on Dover Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. BMO Capital Markets restated a “buy” rating and issued a $94.00 price objective on shares of Dover Corporation in a research report on Sunday, August 27th. Zacks Investment Research upgraded Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Tuesday, July 18th. Citigroup Inc. restated a “neutral” rating and issued a $96.00 price objective (up from $90.00) on shares of Dover Corporation in a research report on Monday, October 9th. Finally, SunTrust Banks, Inc. restated a “hold” rating and issued a $90.00 price objective on shares of Dover Corporation in a research report on Thursday, October 12th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $94.23.
Dover Corporation (DOV) opened at 94.95 on Monday. The firm has a 50-day moving average price of $91.26 and a 200-day moving average price of $84.48. Dover Corporation has a 52 week low of $65.50 and a 52 week high of $95.19. The company has a market capitalization of $14.79 billion, a price-to-earnings ratio of 23.74 and a beta of 1.27.
In other Dover Corporation 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 sale, the director now directly owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of DOV. IFP Advisors Inc increased its stake in Dover Corporation by 15.1% during the second quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 227 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Dover Corporation by 5,446.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 1,743 shares during the last quarter. Penserra Capital Management LLC increased its stake in Dover Corporation by 13.0% during the second quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 258 shares during the last quarter. First Mercantile Trust Co. increased its stake in Dover Corporation by 10.1% during the second quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock worth $187,000 after acquiring an additional 213 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in Dover Corporation during the second quarter worth approximately $205,000. 86.01% of the stock is currently owned by institutional investors.
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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