Dover Corporation (DOV) – Research Analysts’ Recent Ratings Changes
Dover Corporation (NYSE: DOV) recently received a number of ratings updates from brokerages and research firms:
- 7/31/2017 – Dover Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Dover guides its adjusted EPS in the range of $4.23–$4.33 for 2017, the mid-point reflects 38% increase year over year. Dover also expects full-year revenues to grow in the range of 12–14%. The company will continue to benefit from significant drilling activity, strong Printing & Identification platform, strength of retail refrigeration business, and robust hygienic and pharma markets. It will also gain from increasing pace of retail fueling integration. Moreover, focus on acquisition strategy and operating model will drive growth. However, Dover's results will be hurt by rise in inventory and corporate expense. Volatile raw material prices, fluctuation in foreign currency and strong competition also remain headwinds for the company. Moreover, the stock has underperformed its industry over the past one year.”
- 7/24/2017 – Dover Corporation was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
- 7/21/2017 – Dover Corporation had its price target raised by analysts at Stifel Nicolaus from $88.00 to $91.00. They now have a “hold” rating on the stock.
- 7/21/2017 – Dover Corporation had its price target raised by analysts at Citigroup Inc. from $88.00 to $90.00. They now have a “neutral” rating on the stock.
- 7/18/2017 – Dover Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $95.00 price target on the stock. According to Zacks, “Dover expects its earnings per share for full-year 2017 will be in the range of $4.05–$4.20 and revenue growth to be in the range of 11–13%. Within Energy segment, Dover expects that stronger-than-expected U.S. rig count deployment, along with increasing well completion activity will result in higher full-year revenue growth. It anticipates that the Printing & Identification platform will continue to deliver consistent solid performance. Further, the company expects food equipment to have a solid year. The recent acquisition of Caldera will extend its position in digital textile printing. Moreover, Dover is poised to benefit from strategic acquisitions, robust hygienic and pharma markets, strong bookings activity and recovery in the North American rig count.”
- 7/6/2017 – Dover Corporation had its “outperform” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $90.00 price target on the stock, up previously from $89.00.
- 7/6/2017 – Dover Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
- 7/6/2017 – Dover Corporation had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $87.00 price target on the stock.
- 6/22/2017 – Dover Corporation was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
- 6/21/2017 – Dover Corporation was downgraded by analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating. They now have a $86.00 price target on the stock, down previously from $91.00.
Dover Corporation (DOV) traded down 1.52% during trading on Thursday, reaching $85.51. The company had a trading volume of 911,333 shares. The firm’s 50 day moving average is $82.93 and its 200 day moving average is $80.86. The company has a market capitalization of $13.32 billion, a PE ratio of 21.38 and a beta of 1.27. Dover Corporation has a one year low of $65.50 and a one year high of $87.63.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business posted $0.76 earnings per share. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts predict that Dover Corporation will post $4.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 2.20%. Dover Corporation’s dividend payout ratio is 44.11%.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the company’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 in the company, valued at $23,965,941.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP C. Anderson Fincher sold 15,638 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $79.85, for a total value of $1,248,694.30. Following the sale, the vice president now owns 32,842 shares in the company, valued at $2,622,433.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,638 shares of company stock worth $6,753,494. Company insiders own 2.50% of the company’s stock.
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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