Dover Corp Receives A Credit Rating (DOV)
Resource from: sleekmoney Likes:181
Aug 17,2015
Dover Corp (NYSE:DOV) has been given an “A” credit rating by analysts at Morningstar. The firm’s “A” rating suggests that the company is a low default risk. They also gave their stock a three star rating.
A number of other analysts have also recently weighed in on the stock. Morgan Stanley raised their target price on shares of Dover Corp from $66.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Barclays lowered their price objective on shares of Dover Corp from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. RBC Capital restated a “sector perform” rating and set a $71.00 target price (down from $78.00) on shares of Dover Corp in a research report on Monday, July 13th. Zacks raised Dover Corp from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Tuesday, July 7th. Finally, Deutsche Bank raised shares of Dover Corp from a “sell” rating to a “hold” rating and boosted their target price for the company from $61.00 to $81.00 in a research note on Friday, May 22nd. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $75.38.
Shares of Dover Corp (NYSE:DOV) opened at 63.95 on Friday. The stock has a market cap of $10.01 billion and a PE ratio of 11.14. The stock’s 50 day moving average price is $65.98 and its 200-day moving average price is $71.21. Dover Corp has a one year low of $62.62 and a one year high of $90.65.
Dover Corp (NYSE:DOV) last announced its earnings results on Tuesday, July 21st. The company reported $0.97 earnings per share for the quarter, missing the Thomson Reuters consensus estimate of $0.99 by $0.02. The company earned $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.29 earnings per share. On average, equities analysts predict that Dover Corp will post $3.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, August 27th. This is a positive change from Dover Corp’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 2.63%.
In related news, CEO Robert Livingston sold 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $76.84, for a total value of $384,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Dover Corporation (NYSE:DOV) is engaged in the manufacturing of equipment, parts and specialty systems. The Organization also provides supporting other as well as engineering, testing services. The Organization operates through four business segments: Fluids, Engineered Systems, Energy, and Food & Refrigeration Equipment. The Energy segment provides services and solutions for creation and processing of natural gas liquids, petroleum and gas all over the world, and functions the Drilling & Production, Bearings & Compaction and Automation end markets. The Engineered Systems section manages its services and products through two business platforms, Print & Identification and Industrials. The Fluids section is focused on the handling of critical fluids over the industrial, chemical, hygienic and retail fueling marketplaces. The Refrigeration & Food Equipment segment provides equipment and systems serving the commercial refrigeration and food service sectors.
(sleekmoney)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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