Dover Corporation (DOV) Forecasted to Post Q3 2017 Earnings of $1.14 Per Share
Dover Corporation (NYSE:DOV) – Equities researchers at Seaport Global Securities issued their Q3 2017 earnings estimates for Dover Corporation in a report released on Wednesday. Seaport Global Securities analyst W. Liptak expects that the industrial products company will earn $1.14 per share for the quarter. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Dover Corporation’s Q4 2017 earnings at $0.96 EPS, FY2017 earnings at $3.85 EPS, Q1 2018 earnings at $0.76 EPS, Q2 2018 earnings at $1.13 EPS, Q3 2018 earnings at $1.22 EPS, Q4 2018 earnings at $1.04 EPS and FY2018 earnings at $4.15 EPS.
Other research analysts have also issued reports about the company. BidaskClub raised Dover Corporation from a “hold” rating to a “buy” rating in a research 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 on the stock in a report on Tuesday, July 18th. Bank of America Corporation increased their price objective on Dover Corporation from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, June 9th. 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. Finally, BMO Capital Markets reissued a “buy” rating and set a $94.00 price objective on shares of Dover Corporation in a report on Sunday, August 27th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $89.42.
Dover Corporation (DOV) opened at 90.03 on Friday. The firm has a market capitalization of $14.02 billion, a price-to-earnings ratio of 22.51 and a beta of 1.26. Dover Corporation has a 52-week low of $65.50 and a 52-week high of $90.15. The company’s 50-day moving average price is $85.52 and its 200 day moving average price is $81.96.
Dover Corporation (NYSE:DOV) last released its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. Dover Corporation’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS.
A number of large investors have recently made changes to their positions in the stock. Farmers National Bank boosted its stake in Dover Corporation by 0.3% during the 1st quarter. Farmers National Bank now owns 2,988 shares of the industrial products company’s stock valued at $220,000 after purchasing an additional 10 shares during the period. Cleararc Capital Inc. boosted its stake in Dover Corporation by 0.4% during the 1st quarter. Cleararc Capital Inc. now owns 3,799 shares of the industrial products company’s stock valued at $305,000 after purchasing an additional 15 shares during the period. Citizens Financial Group Inc RI boosted its stake in Dover Corporation by 0.3% during the 2nd quarter. Citizens Financial Group Inc RI now owns 4,555 shares of the industrial products company’s stock valued at $365,000 after purchasing an additional 15 shares during the period. Contravisory Investment Management Inc. boosted its stake in Dover Corporation by 0.7% during the 2nd quarter. Contravisory Investment Management Inc. now owns 3,323 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 23 shares during the period. Finally, FineMark National Bank & Trust boosted its stake in Dover Corporation by 0.7% during the 2nd quarter. FineMark National Bank & Trust now owns 3,292 shares of the industrial products company’s stock valued at $264,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 86.06% of the company’s stock.
In related news, Director Michael B. Stubbs sold 25,000 shares of the 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 sale, the director now owns 275,344 shares in the company, valued at approximately $23,965,941.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.47 per share. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, August 29th. This represents a $1.88 annualized dividend and a yield of 2.09%. Dover Corporation’s dividend payout ratio is presently 47.12%.
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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