Dover Co. Expected to Post Q1 2023 Earnings of $1.98 Per Share (NYSE:DOV)

Dover Co. (NYSE:DOV – Get Rating) – Investment analysts at Oppenheimer issued their Q1 2023 earnings per share (EPS) estimates for Dover in a research note issued to investors on Friday, January 20th. Oppenheimer analyst B. Blair forecasts that the industrial products company will post earnings of $1.98 per share for the quarter. The consensus estimate for Dover’s current full-year earnings is $8.44 per share. Oppenheimer also issued estimates for Dover’s Q2 2023 earnings at $2.34 EPS and Q3 2023 earnings at $2.44 EPS.

Dover (NYSE:DOV – Get Rating) last announced its quarterly earnings results on Thursday, October 20th. The industrial products company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 27.62% and a net margin of 13.93%. Dover’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.98 earnings per share.

A number of other brokerages have also issued reports on DOV. Citigroup boosted their price target on Dover from $149.00 to $162.00 and gave the company a “buy” rating in a report on Friday, December 9th. Wells Fargo & Company boosted their price objective on shares of Dover from $145.00 to $149.00 and gave the stock an “equal weight” rating in a research note on Thursday. Royal Bank of Canada reduced their price objective on shares of Dover from $131.00 to $128.00 and set a “sector perform” rating for the company in a research note on Friday, October 21st. Morgan Stanley boosted their price objective on shares of Dover from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Friday, January 6th. Finally, Mizuho boosted their price objective on shares of Dover from $143.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, January 13th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $149.73.

Dover Stock Up 2.5 %

Shares of NYSE DOV opened at $139.34 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.68 and a current ratio of 1.17. The firm has a market capitalization of $19.56 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.13 and a beta of 1.34. The stock has a 50 day moving average price of $138.86 and a 200 day moving average price of $131.47. Dover has a 52-week low of $114.49 and a 52-week high of $176.35.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th were given a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Tuesday, November 29th. Dover’s payout ratio is presently 25.09%.

Hedge Funds Weigh In On Dover

A number of large investors have recently made changes to their positions in DOV. Insight Folios Inc grew its holdings in shares of Dover by 3.2% during the fourth quarter. Insight Folios Inc now owns 2,432 shares of the industrial products company’s stock valued at $329,000 after buying an additional 75 shares during the last quarter. Ellevest Inc. grew its holdings in shares of Dover by 47.0% during the third quarter. Ellevest Inc. now owns 244 shares of the industrial products company’s stock valued at $28,000 after buying an additional 78 shares during the last quarter. First Commonwealth Financial Corp PA grew its holdings in shares of Dover by 2.6% during the third quarter. First Commonwealth Financial Corp PA now owns 3,096 shares of the industrial products company’s stock valued at $361,000 after buying an additional 78 shares during the last quarter. Kinneret Advisory LLC grew its holdings in shares of Dover by 2.2% during the second quarter. Kinneret Advisory LLC now owns 3,795 shares of the industrial products company’s stock valued at $460,000 after buying an additional 80 shares during the last quarter. Finally, Tilia Fiduciary Partners Inc. grew its holdings in shares of Dover by 11.6% during the third quarter. Tilia Fiduciary Partners Inc. now owns 780 shares of the industrial products company’s stock valued at $93,000 after buying an additional 81 shares during the last quarter. 85.52% of the stock is owned by institutional investors and hedge funds.

Dover Company Profile

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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.