Dover Co. (NYSE:DOV) Expected to Post Earnings of $1.84 Per Share

Wall Street brokerages expect Dover Co. (NYSE:DOVGet Rating) to announce earnings per share (EPS) of $1.84 for the current quarter, Zacks reports. Six analysts have made estimates for Dover’s earnings, with estimates ranging from $1.80 to $1.88. Dover posted earnings per share of $1.81 during the same quarter last year, which suggests a positive year over year growth rate of 1.7%. The company is scheduled to issue its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Dover will report full year earnings of $8.57 per share for the current year, with EPS estimates ranging from $8.50 to $8.61. For the next year, analysts forecast that the firm will post earnings of $9.38 per share, with EPS estimates ranging from $9.25 to $9.60. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Dover.

Dover (NYSE:DOVGet Rating) last issued its earnings results on Thursday, January 27th. The industrial products company reported $1.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.12. Dover had a net margin of 14.21% and a return on equity of 28.99%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the company earned $1.55 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis.

Several research firms recently weighed in on DOV. Citigroup upped their price objective on shares of Dover from $218.00 to $221.00 in a research report on Friday, January 28th. Barclays downgraded Dover from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $190.00 to $160.00 in a research note on Friday, April 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Dover from $187.00 to $182.00 and set a “hold” rating for the company in a research note on Thursday. Wells Fargo & Company raised shares of Dover from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $165.00 to $184.00 in a research report on Monday, December 20th. Finally, Zacks Investment Research cut Dover from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a report on Wednesday, March 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $181.77.

Shares of Dover stock opened at $146.39 on Thursday. The firm has a 50-day moving average of $156.05 and a 200-day moving average of $165.76. The stock has a market cap of $21.09 billion, a PE ratio of 18.94, a PEG ratio of 1.22 and a beta of 1.40. Dover has a 52-week low of $137.65 and a 52-week high of $184.04. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 1.36.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Monday, February 28th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, February 25th. This represents a $2.00 annualized dividend and a dividend yield of 1.37%. Dover’s dividend payout ratio (DPR) is presently 25.87%.

In other Dover news, CEO Richard J. Tobin sold 31,515 shares of the business’s stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $156.91, for a total value of $4,945,018.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Anthony K. Kosinski sold 3,287 shares of the company’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $153.43, for a total value of $504,324.41. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Annex Advisory Services LLC boosted its stake in Dover by 4.0% during the first quarter. Annex Advisory Services LLC now owns 24,332 shares of the industrial products company’s stock valued at $3,818,000 after buying an additional 929 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Dover by 14.4% during the 1st quarter. IFM Investors Pty Ltd now owns 21,165 shares of the industrial products company’s stock worth $3,321,000 after acquiring an additional 2,672 shares during the last quarter. Gateway Investment Advisers LLC lifted its stake in shares of Dover by 33.6% during the 1st quarter. Gateway Investment Advisers LLC now owns 4,155 shares of the industrial products company’s stock worth $652,000 after acquiring an additional 1,046 shares during the last quarter. Monument Capital Management increased its holdings in Dover by 3.2% during the 1st quarter. Monument Capital Management now owns 16,537 shares of the industrial products company’s stock worth $2,595,000 after purchasing an additional 517 shares during the period. Finally, Payden & Rygel increased its holdings in Dover by 1,806.6% during the 1st quarter. Payden & Rygel now owns 88,333 shares of the industrial products company’s stock worth $13,859,000 after purchasing an additional 83,700 shares during the period. Hedge funds and other institutional investors own 82.30% of the company’s stock.

Dover Company Profile (Get Rating)

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

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Earnings History and Estimates for Dover (NYSE:DOV)

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