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Company Update (NYSE:DOV): Dover Provides Business Update

[GlobeNewswire] – DOVER PROVIDES BUSINESS UPDATE Downers Grove, IL, March 14, 2016 – Today, Dover (NYSE: DOV) provided an update on business trends and the impact of the current operating environment on the Company`s outlook … Read more on this. Dover Corporation (DOV) , with a current market cap of $9.66B, started trading this morning at $62.40. During today’s session, DOV traded between $62.01 to $62.96 with a trailing 52-week range being $50.91 to $78.21. DOV shares are currently priced at 16.23x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.73x forward p/e ratio. And for passive income investors, the company pays shareholders $1.68 per share annually in dividends, yielding 2.68%. According to a consensus of 19 analysts, the earnings estimate of $0.66 per share would be $0.06 worse than the year-ago quarter and a $0.14 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.76 would be a $0.13 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $1.62 Billion. If realized, that would be a 5.81% decrease over the year-ago quarter. In terms of ratings, Bernstein downgraded DOV from Outperform to Mkt Perform (Jan 15, 2016). Previously, Goldman upgraded DOV from Sell to Neutral. The average price target for DOV shares is $61.29, which is 1.78% below where the stock opened this morning. See more in (NYSE:DOV) Similar Articles: Company Update: Dover Corporation (NYSE:DOV) – Dover Announces Fourth Quarter 2015 Earnings Release Date, Conference Call and Webcast Company Update: Dover Corporation (NYSE:DOV) – Keith E. Wandell Joins Dover’s Board As Independent Director Company Update: Dover Corporation (NYSE:DOV) – Dover Completes Acquisition of Gala Industries
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