Brokerages expect Dover Corp (NYSE:DOV) to post $1.16 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Dover’s earnings, with the lowest EPS estimate coming in at $1.11 and the highest estimate coming in at $1.21. Dover posted earnings per share of $0.70 during the same quarter last year, which would indicate a positive year-over-year growth rate of 65.7%. The business is expected to issue its next quarterly earnings results on Thursday, April 19th.
According to Zacks, analysts expect that Dover will report full year earnings of $5.85 per share for the current financial year, with EPS estimates ranging from $5.80 to $5.90. For the next fiscal year, analysts expect that the business will post earnings of $6.36 per share, with EPS estimates ranging from $5.61 to $6.80. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Dover.
Dover (NYSE:DOV) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.09. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. Dover had a return on equity of 15.24% and a net margin of 10.37%. Dover’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share.
Several analysts have recently commented on DOV shares. ValuEngine cut Dover from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $100.00 target price on shares of Dover in a research report on Thursday, December 14th. Royal Bank of Canada reissued a “hold” rating and set a $100.00 price objective on shares of Dover in a research report on Thursday, January 4th. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a research report on Friday, January 19th. Finally, UBS Group started coverage on Dover in a research report on Monday, January 22nd. They set a “neutral” rating for the company. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $107.83.
Several large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Dover by 2.4% in the fourth quarter. BlackRock Inc. now owns 10,116,808 shares of the industrial products company’s stock worth $1,021,698,000 after buying an additional 234,543 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of Dover by 5.9% in the fourth quarter. Pzena Investment Management LLC now owns 5,942,675 shares of the industrial products company’s stock worth $600,151,000 after buying an additional 328,864 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Dover by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 5,810,306 shares of the industrial products company’s stock worth $531,702,000 after buying an additional 848,098 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Dover by 2.3% in the third quarter. Wells Fargo & Company MN now owns 3,205,690 shares of the industrial products company’s stock worth $292,968,000 after buying an additional 73,375 shares during the last quarter. Finally, Third Point LLC acquired a new stake in shares of Dover in the third quarter worth about $150,794,000. 87.22% of the stock is owned by institutional investors.
Shares of Dover (DOV) traded up $1.87 during trading on Wednesday, hitting $102.08. The stock had a trading volume of 171,674 shares, compared to its average volume of 1,194,495. The firm has a market capitalization of $15,629.29, a PE ratio of 19.76, a PEG ratio of 1.33 and a beta of 1.28. The company has a current ratio of 1.40, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. Dover has a 1-year low of $75.51 and a 1-year high of $109.06.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be given a $0.47 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.84%. Dover’s dividend payout ratio is currently 36.50%.
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Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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