Brokerages expect Dover Corp (NYSE:DOV) to announce $1.28 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Dover’s earnings, with estimates ranging from $1.18 to $1.32. Dover reported earnings of $1.16 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 10.3%. The business is expected to report its next earnings report on Thursday, October 18th.
According to Zacks, analysts expect that Dover will report full-year earnings of $4.83 per share for the current financial year, with EPS estimates ranging from $4.76 to $4.85. For the next fiscal year, analysts forecast that the firm will post earnings of $5.41 per share, with EPS estimates ranging from $5.24 to $5.56. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Dover.
Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 19th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.09. Dover had a net margin of 9.64% and a return on equity of 18.66%. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the company posted $1.04 EPS. The company’s revenue was up 3.5% on a year-over-year basis.
DOV has been the subject of several recent research reports. ValuEngine upgraded shares of Dover from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Barclays decreased their price target on shares of Dover from $94.00 to $88.00 and set an “overweight” rating for the company in a research report on Monday, July 9th. MED initiated coverage on shares of Dover in a research report on Thursday, July 12th. They issued a “hold” rating and a $79.00 price target for the company. Zacks Investment Research upgraded shares of Dover from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 17th. Finally, Seaport Global Securities reiterated a “hold” rating and set a $80.00 price objective on shares of Dover in a research report on Friday, July 20th. Thirteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $92.62.
NYSE DOV traded down $0.87 on Friday, hitting $81.55. The company’s stock had a trading volume of 837,771 shares, compared to its average volume of 1,888,324. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.93 and a current ratio of 1.35. Dover has a 1-year low of $67.06 and a 1-year high of $88.11. The stock has a market cap of $12.17 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 1.42 and a beta of 1.32.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.47. This represents a $1.92 annualized dividend and a dividend yield of 2.35%. Dover’s dividend payout ratio is 46.65%.
In related news, Director Mary A. Winston sold 2,500 shares of the stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $78.86, for a total transaction of $197,150.00. Following the transaction, the director now directly owns 15,055 shares of the company’s stock, valued at $1,187,237.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kristiane C. Graham sold 50,000 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $82.75, for a total transaction of $4,137,500.00. Following the transaction, the director now directly owns 367,324 shares in the company, valued at $30,396,061. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,245 shares of company stock valued at $7,011,239. 2.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Reilly Herbert Faulkner III boosted its stake in Dover by 2.7% during the second quarter. Reilly Herbert Faulkner III now owns 50,792 shares of the industrial products company’s stock worth $3,718,000 after acquiring an additional 1,328 shares in the last quarter. Chilton Investment Co. LLC bought a new position in Dover during the second quarter worth $1,971,000. Third Point LLC boosted its stake in Dover by 2.0% during the second quarter. Third Point LLC now owns 4,000,000 shares of the industrial products company’s stock worth $292,800,000 after acquiring an additional 80,000 shares in the last quarter. ING Groep NV bought a new position in Dover during the second quarter worth $1,212,000. Finally, Richard Bernstein Advisors LLC bought a new position in Dover during the second quarter worth $3,180,000. 89.54% of the stock is currently owned by institutional investors and hedge funds.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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