Dover Corp (NYSE:DOV) Expected to Post Earnings of $1.53 Per Share

Brokerages forecast that Dover Corp (NYSE:DOV) will announce earnings of $1.53 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Dover’s earnings. The highest EPS estimate is $1.57 and the lowest is $1.50. Dover reported earnings per share of $1.36 during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.5%. The company is expected to issue its next quarterly earnings report on Thursday, October 17th.

According to Zacks, analysts expect that Dover will report full-year earnings of $5.84 per share for the current year, with EPS estimates ranging from $5.81 to $5.85. For the next year, analysts anticipate that the business will report earnings of $6.23 per share, with EPS estimates ranging from $6.15 to $6.48. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Dover.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.01. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. Dover had a net margin of 8.50% and a return on equity of 29.22%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 EPS.

A number of equities research analysts recently commented on DOV shares. Deutsche Bank set a $102.00 price objective on shares of Dover and gave the company a “hold” rating in a research note on Monday, April 22nd. Royal Bank of Canada set a $94.00 price objective on shares of Dover and gave the company a “hold” rating in a research note on Friday, July 19th. Robert W. Baird cut shares of Dover from an “outperform” rating to a “neutral” rating in a research note on Monday, April 22nd. Citigroup set a $114.00 price objective on shares of Dover and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Barclays increased their price objective on shares of Dover from $111.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $98.76.

In other Dover news, insider Jay L. Kloosterboer sold 15,416 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $98.00, for a total transaction of $1,510,768.00. Following the sale, the insider now directly owns 24,425 shares of the company’s stock, valued at approximately $2,393,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William Spurgeon sold 20,049 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $98.42, for a total transaction of $1,973,222.58. Following the sale, the vice president now directly owns 5,296 shares in the company, valued at $521,232.32. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Mutual Advisors LLC purchased a new position in Dover in the second quarter valued at approximately $275,000. MidWestOne Financial Group Inc. purchased a new position in Dover in the second quarter valued at approximately $401,000. Worldquant Millennium Advisors LLC raised its holdings in Dover by 10.7% in the second quarter. Worldquant Millennium Advisors LLC now owns 12,269 shares of the industrial products company’s stock valued at $1,229,000 after buying an additional 1,186 shares during the period. Nuveen Asset Management LLC raised its holdings in Dover by 50,089.3% in the second quarter. Nuveen Asset Management LLC now owns 1,981,474 shares of the industrial products company’s stock valued at $198,544,000 after buying an additional 1,977,526 shares during the period. Finally, Andra AP fonden raised its holdings in Dover by 5.6% in the second quarter. Andra AP fonden now owns 77,100 shares of the industrial products company’s stock valued at $7,725,000 after buying an additional 4,100 shares during the period. 84.30% of the stock is currently owned by institutional investors.

NYSE DOV traded up $0.71 during trading hours on Thursday, reaching $89.00. The company’s stock had a trading volume of 653,700 shares, compared to its average volume of 1,006,413. The stock has a market cap of $13.11 billion, a PE ratio of 17.91, a PEG ratio of 1.34 and a beta of 1.48. Dover has a fifty-two week low of $65.83 and a fifty-two week high of $103.47. The company’s 50-day moving average is $97.09 and its two-hundred day moving average is $94.46. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.34.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.49 per share. This is a boost from Dover’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, August 29th. Dover’s dividend payout ratio (DPR) is currently 38.63%.

About Dover

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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Earnings History and Estimates for Dover (NYSE:DOV)

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