Brokerages Expect Dover Co. (NYSE:DOV) Will Announce Quarterly Sales of $2.19 Billion

Equities research analysts predict that Dover Co. (NYSE:DOVGet Rating) will announce sales of $2.19 billion for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Dover’s earnings, with estimates ranging from $2.12 billion to $2.23 billion. Dover reported sales of $2.03 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.9%. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Dover will report full-year sales of $8.66 billion for the current fiscal year, with estimates ranging from $8.61 billion to $8.82 billion. For the next financial year, analysts expect that the company will post sales of $9.07 billion, with estimates ranging from $8.93 billion to $9.29 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Dover.

Dover (NYSE:DOVGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The industrial products company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.07. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 27.82% and a net margin of 13.81%. Dover’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $1.81 earnings per share.

A number of research analysts have recently commented on the company. 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 research report on Wednesday, March 16th. Barclays dropped their target price on Dover from $160.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Friday, April 22nd. Robert W. Baird cut their target price on Dover from $194.00 to $169.00 in a research note on Thursday, April 21st. Citigroup increased their price target on shares of Dover from $218.00 to $221.00 in a report on Friday, January 28th. Finally, Morgan Stanley reduced their price objective on shares of Dover from $177.00 to $161.00 and set an “equal weight” rating for the company in a research note on Friday, April 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $175.08.

Dover stock opened at $133.01 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $19.18 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.13 and a beta of 1.42. The firm has a 50 day moving average price of $150.17 and a 200-day moving average price of $163.72. Dover has a twelve month low of $131.03 and a twelve month high of $184.04.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.50%. Dover’s dividend payout ratio is presently 26.04%.

In other news, SVP David J. Malinas bought 350 shares of the business’s stock in a transaction on Monday, April 25th. The stock was acquired at an average price of $139.44 per share, with a total value of $48,804.00. Following the completion of the purchase, the senior vice president now directly owns 2,744 shares in the company, valued at $382,623.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard J. Tobin sold 31,515 shares of Dover stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $156.91, for a total transaction of $4,945,018.65. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Dover by 0.5% during the 4th quarter. JPMorgan Chase & Co. now owns 11,307,889 shares of the industrial products company’s stock worth $2,053,514,000 after acquiring an additional 54,785 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Dover by 2.1% during the fourth quarter. BlackRock Inc. now owns 10,713,313 shares of the industrial products company’s stock valued at $1,945,538,000 after purchasing an additional 220,569 shares during the period. Macquarie Group Ltd. grew its holdings in shares of Dover by 202.0% in the third quarter. Macquarie Group Ltd. now owns 3,435,433 shares of the industrial products company’s stock worth $534,210,000 after purchasing an additional 2,297,892 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Dover by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 2,656,593 shares of the industrial products company’s stock worth $481,176,000 after buying an additional 121,884 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Dover by 3.7% during the 3rd quarter. Alliancebernstein L.P. now owns 2,275,416 shares of the industrial products company’s stock valued at $353,827,000 after buying an additional 81,356 shares during the last quarter. Institutional investors own 84.14% 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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