Dover Corp Forecasted to Earn Q2 2017 Earnings of $0.93 Per Share (DOV)

Dover Corp (NYSE:DOV) – Stock analysts at Seaport Global Securities upped their Q2 2017 earnings per share (EPS) estimates for Dover Corp in a research report issued on Tuesday, Zacks Investment Research reports. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will earn $0.93 per share for the quarter, up from their previous forecast of $0.83. Seaport Global Securities also issued estimates for Dover Corp’s FY2017 earnings at $3.70 EPS, Q1 2018 earnings at $0.74 EPS, Q2 2018 earnings at $1.13 EPS and Q3 2018 earnings at $1.28 EPS.

Dover Corp (NYSE:DOV) last released its quarterly earnings data on Thursday, April 20th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.48. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.77 billion. Dover Corp had a return on equity of 12.35% and a net margin of 7.49%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share.

TRADEMARK VIOLATION WARNING: “Dover Corp Forecasted to Earn Q2 2017 Earnings of $0.93 Per Share (DOV)” was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://sportsperspectives.com/2017/04/21/research-analysts-set-expectations-for-dover-corps-q2-2017-earnings-dov-updated-updated.html.

Earnings History and Estimates for Dover Corp (NYSE:DOV)

Other equities research analysts have also recently issued research reports about the stock. Vertical Research raised shares of Dover Corp from a “hold” rating to a “buy” rating in a report on Tuesday, January 3rd. Barclays PLC upped their price target on shares of Dover Corp from $78.00 to $79.00 and gave the stock an “equal weight” rating in a report on Wednesday. Stifel Nicolaus upped their price target on shares of Dover Corp from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Friday. Langenberg & Company raised shares of Dover Corp from a “sell” rating to a “hold” rating in a report on Monday, January 30th. Finally, Royal Bank of Canada set a $73.00 price target on shares of Dover Corp and gave the stock a “hold” rating in a report on Thursday, January 26th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Dover Corp presently has an average rating of “Hold” and an average target price of $83.50.

Dover Corp (NYSE:DOV) traded down 0.34% during mid-day trading on Thursday, reaching $79.44. The company’s stock had a trading volume of 1,887,939 shares. Dover Corp has a 52-week low of $62.89 and a 52-week high of $82.56. The firm has a 50 day moving average price of $79.33 and a 200 day moving average price of $75.67. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 24.44 and a beta of 1.18.

In other news, VP Sandra A. Arkell sold 1,850 shares of the stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $79.94, for a total transaction of $147,889.00. Following the completion of the sale, the vice president now directly owns 10,742 shares in the company, valued at $858,715.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael B. Stubbs sold 20,000 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $80.30, for a total transaction of $1,606,000.00. Following the sale, the director now owns 277,194 shares of the company’s stock, valued at $22,258,678.20. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its position in Dover Corp by 314.0% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,391 shares of the industrial products company’s stock worth $102,000 after buying an additional 1,055 shares during the last quarter. FNY Partners Fund LP bought a new position in Dover Corp during the fourth quarter worth about $112,000. Johnson Financial Group Inc. increased its position in Dover Corp by 2.6% in the fourth quarter. Johnson Financial Group Inc. now owns 1,556 shares of the industrial products company’s stock worth $117,000 after buying an additional 40 shares during the last quarter. Ledyard National Bank increased its position in Dover Corp by 421.1% in the first quarter. Ledyard National Bank now owns 1,485 shares of the industrial products company’s stock worth $119,000 after buying an additional 1,200 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in Dover Corp by 94.8% in the third quarter. Penserra Capital Management LLC now owns 1,784 shares of the industrial products company’s stock worth $130,000 after buying an additional 868 shares during the last quarter. 84.57% of the stock is owned by institutional investors.

Dover Corp 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.

5 Day Chart for NYSE:DOV

Get a free copy of the Zacks research report on Dover Corp (DOV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Dover Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply