Zacks: Brokerages Anticipate Dover Corp (DOV) to Post $1.04 EPS

Wall Street analysts forecast that Dover Corp (NYSE:DOV) will announce earnings of $1.04 per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Dover’s earnings, with the lowest EPS estimate coming in at $1.02 and the highest estimate coming in at $1.06. Dover reported earnings of $0.71 per share in the same quarter last year, which would suggest a positive year over year growth rate of 46.5%. The business is expected to issue its next earnings results before the market opens on Tuesday, January 30th.

According to Zacks, analysts expect that Dover will report full-year earnings of $4.31 per share for the current year, with EPS estimates ranging from $4.30 to $4.33. For the next financial year, analysts anticipate that the firm will post earnings of $4.55 per share, with EPS estimates ranging from $4.35 to $5.07. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Dover.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.05. Dover had a net margin of 8.91% and a return on equity of 14.10%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the business posted $0.83 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis.

DOV has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Dover from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research report on Tuesday, October 17th. Royal Bank of Canada restated a “hold” rating and issued a $105.00 target price on shares of Dover in a research report on Wednesday. Stifel Nicolaus restated a “hold” rating and issued a $112.00 target price (up previously from $100.00) on shares of Dover in a research report on Tuesday. ValuEngine lowered shares of Dover from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, SunTrust Banks restated a “hold” rating and issued a $96.00 target price on shares of Dover in a research report on Monday, October 23rd. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $97.92.

In related news, VP William T. Bosway sold 6,087 shares of Dover stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total transaction of $576,195.42. Following the completion of the transaction, the vice president now owns 21,877 shares of the company’s stock, valued at $2,070,876.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael B. Stubbs sold 41,505 shares of Dover stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $95.67, for a total transaction of $3,970,783.35. Following the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $26,342,160.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,276 shares of company stock worth $6,234,042. 2.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its stake in Dover by 388.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock worth $155,000 after buying an additional 1,347 shares during the last quarter. Cape Cod Five Cents Savings Bank bought a new position in Dover during the third quarter worth $201,000. NBT Bank N A NY bought a new position in Dover during the third quarter worth $202,000. South State Corp bought a new position in Dover during the third quarter worth $208,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. bought a new position in Dover during the third quarter worth $209,000. 84.49% of the stock is owned by institutional investors and hedge funds.

Shares of Dover (DOV) traded up $0.98 during trading on Thursday, reaching $104.34. 831,300 shares of the company’s stock were exchanged, compared to its average volume of 841,091. Dover has a 1 year low of $75.51 and a 1 year high of $104.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.32 and a quick ratio of 0.87. The firm has a market capitalization of $16,102.57, a price-to-earnings ratio of 24.27, a P/E/G ratio of 1.77 and a beta of 1.29.

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Dover 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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