$1.99 Billion in Sales Expected for Dover Corp (DOV) This Quarter

Brokerages predict that Dover Corp (NYSE:DOV) will post sales of $1.99 billion for the current quarter, Zacks reports. Eight analysts have provided estimates for Dover’s earnings, with the highest sales estimate coming in at $2.03 billion and the lowest estimate coming in at $1.97 billion. Dover posted sales of $1.78 billion during the same quarter last year, which suggests a positive year over year growth rate of 11.8%. The business is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, January 30th.

According to Zacks, analysts expect that Dover will report full-year sales of $1.99 billion for the current year, with estimates ranging from $7.77 billion to $7.84 billion. For the next year, analysts forecast that the firm will post sales of $8.14 billion per share, with estimates ranging from $8.03 billion to $8.31 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Dover.

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

DOV has been the subject of a number of recent research reports. SunTrust Banks reiterated a “hold” rating and set a $90.00 price objective on shares of Dover in a research note on Thursday, October 12th. Stifel Nicolaus reiterated a “hold” rating and set a $112.00 price objective (up from $100.00) on shares of Dover in a research note on Tuesday. Zacks Investment Research downgraded Dover from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. ValuEngine downgraded Dover from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $105.00 price objective on shares of Dover in a research note on Wednesday. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Dover has an average rating of “Hold” and an average price target of $98.75.

Shares of Dover (DOV) traded up $0.42 during trading hours on Friday, hitting $104.41. The company had a trading volume of 1,229,918 shares, compared to its average volume of 884,012. The company has a market cap of $16,270.00, a P/E ratio of 24.28, a PEG ratio of 1.75 and a beta of 1.29. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. Dover has a 52 week low of $75.51 and a 52 week high of $104.95.

In other Dover news, VP William T. Bosway sold 6,087 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.66, for a total value of $576,195.42. Following the completion of the transaction, the vice president now directly owns 21,877 shares in the company, valued at approximately $2,070,876.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael B. Stubbs sold 41,505 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $95.67, for a total value of $3,970,783.35. Following the completion of the transaction, the director now owns 275,344 shares of the company’s stock, valued at $26,342,160.48. The disclosure for this sale can be found here. Insiders sold a total of 65,276 shares of company stock valued at $6,234,042 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Winslow Evans & Crocker Inc. bought a new position in shares of Dover during the 4th quarter valued at approximately $321,000. State of Alaska Department of Revenue boosted its position in shares of Dover by 94.8% during the 4th quarter. State of Alaska Department of Revenue now owns 22,689 shares of the industrial products company’s stock valued at $2,290,000 after acquiring an additional 11,040 shares during the last quarter. Berkshire Asset Management LLC PA bought a new position in shares of Dover during the 4th quarter valued at approximately $233,000. Schwab Charles Investment Management Inc. boosted its position in shares of Dover by 3.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 605,813 shares of the industrial products company’s stock valued at $61,182,000 after acquiring an additional 19,389 shares during the last quarter. Finally, DAVENPORT & Co LLC bought a new position in shares of Dover during the 4th quarter valued at approximately $255,000. Hedge funds and other institutional investors own 84.49% of the company’s stock.

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About Dover

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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