Zacks: Brokerages Expect Dover Corp (DOV) Will Announce Earnings of $1.16 Per Share

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%.

COPYRIGHT VIOLATION WARNING: “Zacks: Brokerages Expect Dover Corp (DOV) Will Announce Earnings of $1.16 Per Share” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright law. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/21/zacks-brokerages-expect-dover-corp-dov-will-announce-earnings-of-1-16-per-share.html.

About Dover

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.

Get a free copy of the Zacks research report on Dover (DOV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Dover (NYSE:DOV)

Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply