Dover (DOV) Stock Gains in After-Hours Trading After Buyback AnnouncementBy twocents@thestreet (Shawn Ingram) NEW YORK (TheStreet) -- Shares of Dover were gaining 0.8% to $70.20 after-hours Friday after the diversified machinery company announced a new 15 million share buyback program. Dover announced that its board of directors authorized the buyback plan that will let theBy twocents@thestreet (Shawn Ingram) NEW YORK (TheStreet) -- Shares of Dover were gaining 0.8% to $70.20 after-hours Friday after the diversified machinery company announced a new 15 million share buyback program. Dover announced that its board of directors authorized the buyback plan that will let the company buy up to 15 million shares over the next three years. The company plans to use cash on hand, proceeds from divestitures, and free cash flow to fund the share repurchase program. The new buyback plan replaces the companys previous 10 million share buyback plan. Exclusive Report: Jim Cramers Best Stocks for 2015 STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. In addition to ongoing investments to support growth, we have consistently returned capital to shareholders via our long history of dividend increases and share repurchases, Dover president and CEO Robert A. Livingston said. I am very pleased the Board continues to support this balanced approach to capital allocation. TheStreet Ratings team rates DOVER CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation: We rate DOVER CORP (DOV) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The companys strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Highlights from the analysis by TheStreet Ratings Team goes as follows: DOVs revenue growth has slightly outpaced the industry average of 3.1%. Since the same quarter one year prior, revenues slightly increased by 7.8%. This growth in revenue appears to have trickled down to the companys bottom line, improving the earnings per share. The debt-to-equity ratio is somewhat low, currently at 0.69, and is less than that of the industry average, implying that there has been a relatively successful effort in the management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.47, which illustrates the ability to avoid short-term cash problems. Current return on equity exceeded its ROE from the same quarter one year prior. This is a clear sign of strength within the company. Compared to other companies in the Machinery industry and the overall market, DOVER CORPs return on equity exceeds that of both the industry average and the S&P 500. 41.98% is the gross profit margin for DOVER CORP which we consider to be strong. Regardless of DOVs high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, DOVs net profit margin of 11.07% compares favorably to the industry average. You can view the full analysis from the report here: DOV Ratings Report STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. Click to view a price quote on DOV. Click to research the Industrial industry. ift.tt/1gB4pon
Posted on: Sat, 10 Jan 2015 05:44:19 +0000
Trending Topics
Recently Viewed Topics
© 2015