Dover Corporation (DOV): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report

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Summary:
In the fourth-quarter 2014, Dover's adjusted earnings grew 2% year over year to $1.01 per share, driven by revenue growth across all segments and strong volume leverage. Total revenue rose 11% year over year to $2 billion. Dover now expects total revenue growth of -2% to 1% in fiscal 2015, which mainly reflects a new Energy revenue estimate of -9% to -6%. This reflects the impact of lower oil prices, share repurchase activity and foreign exchange volatility. Dover will benefit from its focus on expanding business in key markets. Moreover, the company strives to innovate its products as per customer needs in order to gain market share. Hence, we have maintained our Neutral recommendation on Dover with a target price of $74.


Overview:

Incorporated in 1955, New York-based Dover Corporation (DOV) is an industrial conglomerate producing a wide range of specialized industrial products and manufacturing equipment. It operates primarily in the U.S. and has subsidiaries and affiliates in Canada, France, Germany, the Netherlands, Sweden, China and the United Kingdom. Dover caters to a diverse clientele, principally spread across the Americas, Europe and Asia.

The company operated its business under four segments - Fluids (18% of total revenue in the third quarter of 2014), Engineered Systems (33%), Energy (24%) and Refrigeration & Food Equipment (25%).


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.




This article appears in: Investing , Stocks

Referenced Stocks: DOV

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