Why Dividend King Dover Fell by Almost 4% Today

One of the most regal of the stock market's few Dividend Kings was looking a bit tarnished on Thursday. Shares of Dover (NYSE: DOV) took a nearly 4% hit during the trading session following the release of the company's latest set of quarterly results. This occurred on a day when the S&P 500 index closed in positive territory, with the indicator rising by 0.2%. That morning before market open, Dover unveiled third-quarter figures that showed it earned $1.98 billion in revenue, which was 1% higher on a year-over-year basis. Non-GAAP (adjusted) net income rose more sharply, advancing by 4% to $314 million ($2.27 per share). According to consensus analyst estimates compiled by Zack's, prognosticators tracking the stock were expecting slightly higher revenue of around $1.99 billion. Yet they anticipated that Dover would only book $2.16 in adjusted, per-share net income. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool