Dover (NYSE:DOV) Issues FY 2024 Earnings Guidance

Dover (NYSE:DOV) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 9.000-9.150 for the period, compared to the consensus EPS estimate of 9.060. The company issued revenue guidance of $8.6 billion-$8.8 billion, compared to the consensus revenue estimate of $8.6 billion. Dover also updated its FY24 guidance to $9.00-9.15 EPS.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Seaport Res Ptn raised Dover from a neutral rating to a buy rating in a report on Monday, February 5th. Mizuho boosted their target price on shares of Dover from $180.00 to $185.00 and gave the stock a buy rating in a research report on Friday. Oppenheimer increased their price target on shares of Dover from $187.00 to $197.00 and gave the company an outperform rating in a report on Friday. StockNews.com raised Dover from a hold rating to a buy rating in a research report on Friday. Finally, Robert W. Baird boosted their price target on Dover from $185.00 to $208.00 and gave the company an outperform rating in a research note on Friday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Dover currently has a consensus rating of Moderate Buy and a consensus target price of $185.75.

Dover Trading Up 0.6 %

DOV stock opened at $180.17 on Friday. The business has a fifty day moving average price of $171.75 and a 200 day moving average price of $154.38. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $181.49. The stock has a market capitalization of $24.75 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.87 and a beta of 1.27.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 25.41% and a net margin of 17.28%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $1.94 earnings per share. Analysts expect that Dover will post 9.1 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.51 per share. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.13%. Dover’s payout ratio is 19.60%.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the transaction, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the transaction, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the transaction, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. 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 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

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.