Wall Street analysts predict that Dover Corp (NYSE:DOV) will report $1.90 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Dover’s earnings, with the highest sales estimate coming in at $1.93 billion and the lowest estimate coming in at $1.86 billion. Dover posted sales of $1.81 billion during the same quarter last year, which suggests a positive year over year growth rate of 5%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Friday, April 27th.
According to Zacks, analysts expect that Dover will report full year sales of $8.15 billion for the current financial year, with estimates ranging from $8.12 billion to $8.21 billion. For the next year, analysts expect that the company will post sales of $8.51 billion per share, with estimates ranging from $8.40 billion to $8.66 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Dover.
Dover (NYSE:DOV) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. Dover had a return on equity of 15.24% and a net margin of 10.37%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The business’s revenue was up 13.5% on a year-over-year basis.
DOV has been the topic of several analyst reports. Royal Bank of Canada restated a “hold” rating and set a $100.00 price objective on shares of Dover in a report on Thursday, January 4th. Stifel Nicolaus restated a “hold” rating and set a $112.00 price objective (up previously from $100.00) on shares of Dover in a report on Tuesday, January 16th. Zacks Investment Research upgraded Dover from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a report on Friday, January 19th. UBS initiated coverage on Dover in a report on Monday, January 22nd. They set a “neutral” rating on the stock. Finally, BMO Capital Markets restated a “buy” rating on shares of Dover in a report on Friday, January 26th. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $107.00.
Shares of DOV stock traded up $1.99 during mid-day trading on Friday, hitting $95.99. 1,609,289 shares of the company’s stock were exchanged, compared to its average volume of 1,371,104. Dover has a fifty-two week low of $76.47 and a fifty-two week high of $109.06. The company has a quick ratio of 1.01, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $14,562.22, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.24 and a beta of 1.30.
In related news, VP Anthony K. Kosinski sold 895 shares of Dover stock in a transaction on Monday, February 26th. The stock was sold at an average price of $104.34, for a total value of $93,384.30. Following the transaction, the vice president now owns 8,516 shares in the company, valued at $888,559.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Patrick Burns bought 510 shares of Dover stock in a transaction that occurred on Friday, March 2nd. The stock was purchased at an average price of $97.51 per share, for a total transaction of $49,730.10. Following the acquisition, the senior vice president now directly owns 1,883 shares of the company’s stock, valued at approximately $183,611.33. The disclosure for this purchase can be found here. Insiders sold 19,897 shares of company stock worth $2,031,745 in the last quarter. 2.60% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Cerebellum GP LLC acquired a new position in shares of Dover during the fourth quarter worth about $133,000. Tower Research Capital LLC TRC lifted its stake in shares of Dover by 891.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 1,596 shares in the last quarter. Somerville Kurt F acquired a new position in shares of Dover during the fourth quarter worth about $202,000. Associated Banc Corp acquired a new position in shares of Dover during the fourth quarter worth about $202,000. Finally, Hemenway Trust Co LLC acquired a new position in shares of Dover during the fourth quarter worth about $203,000. Institutional investors own 88.19% of the company’s stock.
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Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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