NEW YORK (TheStreet) -- Shares of Dover (DOV) - Get Dover Corporation Report were down 5.88% to $67.99 in mid-morning trading on Monday after reducing its full-year guidance and pushing back the closing date of its planned merger with Wayne Fueling Systems.
The equipment manufacturer now expects full-year earnings between $3 and $3.05 per share, down from $3.35 to $3.45 per share. Analysts surveyed by Thomson Reuters are looking for earnings of $3.34 per share.
For the current quarter, Dover projects earnings between 81 cents and 83 cents per share. Wall Street is modeling earnings of $1.02 per share.
Sales for the year will likely fall between 4% and 5%, the company said in a statement. Dover had previously estimated a decline between 3% and 5%.
Additionally, Dover now expects that its $780 million planned acquisition of gas station supplier Wayne Fueling Systems will close in the 2017 first quarter rather than the second half of 2016 due to a regulatory review by the U.K. Competition and Markets Authority.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B-.
Dover's strengths such as its reasonable valuation levels, expanding profit margins, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations outweigh the fact that the company has had somewhat weak growth in earnings per share.
You can view the full analysis from the report here: DOV
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.