Dover (DOV) Set to Announce Earnings on Thursday

Dover (NYSE:DOV) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $1.91 per share for the quarter. Dover has set its FY 2024 guidance at 8.950-9.150 EPS and its FY24 guidance at $8.95-$9.15 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Dover (NYSE:DOV) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.01. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. Dover’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the business earned $2.16 EPS. On average, analysts expect Dover to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Dover Stock Up 1.1 %

DOV stock opened at $172.19 on Wednesday. The firm has a 50 day moving average of $170.83 and a 200 day moving average of $153.72. The stock has a market capitalization of $23.66 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. Dover has a 52 week low of $127.25 and a 52 week high of $178.28.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio (DPR) is presently 27.13%.

Analyst Ratings Changes

Several analysts have commented on DOV shares. Royal Bank of Canada lifted their price objective on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Oppenheimer lifted their price objective on shares of Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Robert W. Baird lifted their price objective on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Citigroup lifted their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Barclays lifted their price objective on shares of Dover from $163.00 to $180.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $175.13.

Insider Activity

In other news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the sale, the chief financial officer now owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. Insiders sold a total of 25,910 shares of company stock valued at $4,318,059 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.