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Market Update (NYSE:DOV): Dover Completes Acquisition of Tokheim Dispenser and System Businesses

[GlobeNewswire] – DOVER COMPLETES ACQUISITION OF TOKHEIM DISPENSER AND SYSTEM BUSINESSES Acquisition expands market reach and product offerings to deliver the industry`s only single source end-to-end fuel site solution … Read more on this. Dover Corporation (DOV) , valued at $8.98B, began trading this morning at $58.10. A quick look at the market, the company’s stock traded between $57.77 and $59.16 with a one year range of $55.50 to $78.21. DOV shares are currently priced at 16.70x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 17.60x earnings multiple. And for dividend hunters, the company pays shareholders $1.68 per share annually in dividends, yielding 2.74%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $0.78 per share, which would be $0.23 worse than the year-ago quarter and a $0.20 sequential decrease. The full-year EPS estimate is $3.62, which would be a $0.92 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.68 Billion. If reported, that would be a 15.15% decrease over the year-ago quarter. In terms of ratings, Sun Trust Rbsn Humphrey Initiated DOV at Buy (Nov 3, 2015). Previously, JP Morgan upgraded DOV from Underweight to Neutral. With the above information in mind, readers should note that the average price target is $64.31, which is 10.69% above where the stock opened this morning. See more in (NYSE:DOV) Similar Articles: Company Update: Dover Corporation (NYSE:DOV) – Dover Completes Acquisition of Gala Industries Market Update: Dover Corporation (NYSE:DOV) – Dover Increases Dividend By 5% Market Update: Dover Corporation (NYSE:DOV) – Dover Reduces Full-Year Forecast
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