Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Dover Corporation (DOV) Share Price
News stories about Dover Corporation (NYSE:DOV) have trended somewhat positive on Thursday, according to Accern Sentiment. Accern identifies positive and negative press coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Dover Corporation earned a coverage optimism score of 0.22 on Accern’s scale. Accern also gave press coverage about the industrial products company an impact score of 46.201475857349 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:
- $39.1 Billion Commercial Refrigeration Equipment Market, 2022 (prnewswire.com)
- Douglas Waymark dies swimming English Channel during Arch to Arc endurance event (wisdomsave.com)
- Betting on downtown revitalization: Affordable-priced townhouses set to hit the market (delawarestatenews.net)
- Dover (DOV) Hikes Dividend by 7%: Time to Buy the Stock? – Nasdaq (nasdaq.com)
- Zacks: Analysts Anticipate Dover Corporation (NYSE:DOV) Will Post Quarterly Sales of $1.99 Billion (americanbankingnews.com)
Shares of Dover Corporation (NYSE:DOV) traded down 1.52% during midday trading on Thursday, reaching $85.51. The company had a trading volume of 911,333 shares. The stock’s 50 day moving average is $83.15 and its 200-day moving average is $80.90. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $87.63. The stock has a market capitalization of $13.32 billion, a PE ratio of 21.38 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 earnings per share. On average, equities research analysts predict that Dover Corporation will post $4.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.47 dividend. The ex-dividend date is Tuesday, August 29th. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 2.20%. Dover Corporation’s dividend payout ratio is 44.11%.
DOV has been the topic of several recent analyst reports. Edward Jones cut Dover Corporation from a “buy” rating to a “hold” rating in a report on Saturday, April 22nd. BidaskClub cut Dover Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Stifel Nicolaus lifted their price objective on Dover Corporation from $88.00 to $91.00 and gave the company a “hold” rating in a report on Friday, July 21st. BMO Capital Markets upgraded Dover Corporation from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $89.00 to $82.00 in a report on Thursday, June 8th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $89.00 price objective (up previously from $86.00) on shares of Dover Corporation in a report on Sunday, April 23rd. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $87.73.
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In other news, VP C. Anderson Fincher sold 15,638 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $79.85, for a total value of $1,248,694.30. Following the completion of the sale, the vice president now directly owns 32,842 shares of the company’s stock, valued at $2,622,433.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael B. Stubbs sold 40,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $83.22, for a total value of $3,328,800.00. Following the completion of the sale, the director now directly owns 275,344 shares of the company’s stock, valued at $22,914,127.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,638 shares of company stock valued at $6,753,494. Company insiders own 2.50% of the company’s stock.
About Dover Corporation
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.
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