Dover Co. (DOV) Expected to Earn Q2 2018 Earnings of $1.19 Per Share

Dover Co. (NYSE:DOV) – Equities research analysts at Oppenheimer issued their Q2 2018 earnings per share estimates for Dover in a report released on Wednesday, May 16th. Oppenheimer analyst J. Giannakouros anticipates that the industrial products company will earn $1.19 per share for the quarter. Oppenheimer also issued estimates for Dover’s Q3 2018 earnings at $1.33 EPS, Q4 2018 earnings at $1.39 EPS, FY2018 earnings at $4.80 EPS and FY2019 earnings at $5.40 EPS.

Dover (NYSE:DOV) last posted its quarterly earnings data on Friday, April 27th. The industrial products company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.03. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.89 billion. Dover had a net margin of 9.71% and a return on equity of 16.48%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share.

Several other research firms also recently weighed in on DOV. SunTrust Banks upped their price objective on shares of Dover to $106.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Morgan Stanley upped their price objective on shares of Dover from $110.00 to $113.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. BMO Capital Markets upped their price target on shares of Dover from $116.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Seaport Global Securities reissued a “hold” rating and issued a $110.00 price target on shares of Dover in a report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $104.92.

DOV stock opened at $80.39 on Monday. The stock has a market capitalization of $12.22 billion, a P/E ratio of 19.95, a P/E/G ratio of 1.26 and a beta of 1.32. Dover has a fifty-two week low of $62.10 and a fifty-two week high of $88.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.42 and a quick ratio of 0.95.

A number of hedge funds have recently bought and sold shares of DOV. Bank of Montreal Can lifted its stake in Dover by 188.6% during the fourth quarter. Bank of Montreal Can now owns 275,793 shares of the industrial products company’s stock valued at $27,852,000 after buying an additional 180,227 shares in the last quarter. National Pension Service increased its holdings in shares of Dover by 2.5% in the 4th quarter. National Pension Service now owns 170,691 shares of the industrial products company’s stock valued at $17,238,000 after purchasing an additional 4,182 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Dover by 3.3% in 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 purchasing an additional 19,389 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Dover by 94.8% in 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 purchasing an additional 11,040 shares during the period. Finally, Asset Advisors Corp increased its holdings in shares of Dover by 0.8% in the 4th quarter. Asset Advisors Corp now owns 140,390 shares of the industrial products company’s stock valued at $14,178,000 after purchasing an additional 1,150 shares during the period. 85.65% of the stock is owned by institutional investors.

In other Dover news, VP Anthony K. Kosinski sold 895 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $104.34, for a total transaction of $93,384.30. Following the completion of the sale, the vice president now directly owns 8,516 shares of the company’s stock, valued at $888,559.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Gary Kennon sold 15,702 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $102.01, for a total transaction of $1,601,761.02. The disclosure for this sale can be found here. Insiders have sold 19,897 shares of company stock valued at $2,031,745 over the last ninety days. Insiders own 2.60% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Wednesday, May 30th. Dover’s dividend payout ratio is presently 46.65%.

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 four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.

Earnings History and Estimates for Dover (NYSE:DOV)

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