Q4 2018 Earnings Estimate for Dover Corp (DOV) Issued By Seaport Global Securities
Dover Corp (NYSE:DOV) – Equities researchers at Seaport Global Securities lifted their Q4 2018 earnings estimates for Dover in a research note issued to investors on Wednesday, September 12th. Seaport Global Securities analyst W. Liptak now anticipates that the industrial products company will earn $1.28 per share for the quarter, up from their previous forecast of $1.26. Seaport Global Securities currently has a “Hold” rating and a $80.00 target price on the stock. Seaport Global Securities also issued estimates for Dover’s Q1 2019 earnings at $1.13 EPS, Q2 2019 earnings at $1.53 EPS, Q3 2019 earnings at $1.51 EPS, Q4 2019 earnings at $1.59 EPS and FY2019 earnings at $5.76 EPS.
Several other brokerages have also issued reports on DOV. Barclays increased their target price on shares of Dover to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 12th. Morgan Stanley cut their target price on shares of Dover from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, July 20th. BMO Capital Markets cut their target price on shares of Dover to $98.00 and set a “positive” rating on the stock in a research note on Monday, June 18th. Stifel Nicolaus increased their target price on shares of Dover from $85.00 to $92.00 and gave the stock a “hold” rating in a research note on Wednesday, September 12th. Finally, ValuEngine raised shares of Dover from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Thirteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $92.77.
Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 19th. The industrial products company reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.09. Dover had a net margin of 9.64% and a return on equity of 18.66%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the firm posted $1.04 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis.
Several institutional investors have recently added to or reduced their stakes in DOV. Optimum Investment Advisors bought a new position in shares of Dover in the first quarter valued at $104,000. Summit Trail Advisors LLC lifted its stake in shares of Dover by 4,425.8% in the first quarter. Summit Trail Advisors LLC now owns 106,446 shares of the industrial products company’s stock valued at $106,000 after buying an additional 104,094 shares in the last quarter. Fort L.P. bought a new position in shares of Dover in the second quarter valued at $118,000. Winthrop Partners WNY LLC bought a new position in shares of Dover in the first quarter valued at $126,000. Finally, Centaurus Financial Inc. bought a new position in shares of Dover in the second quarter valued at $127,000. 90.92% of the stock is currently owned by hedge funds and other institutional investors.
In other Dover news, Director Kristiane C. Graham sold 50,000 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $82.75, for a total value of $4,137,500.00. Following the transaction, the director now directly owns 367,324 shares of the company’s stock, valued at $30,396,061. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by company insiders.
The business also recently announced a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 31st were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.47. This represents a $1.92 annualized dividend and a yield of 2.17%. Dover’s dividend payout ratio is currently 47.64%.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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