Brokerages expect Dover Co. (NYSE:DOV) to post sales of $1.78 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Dover’s earnings. The lowest sales estimate is $1.78 billion and the highest is $1.80 billion. Dover posted sales of $1.99 billion in the same quarter last year, which suggests a negative year over year growth rate of 10.6%. The firm is expected to issue its next quarterly earnings results on Thursday, July 19th.
On average, analysts expect that Dover will report full year sales of $7.05 billion for the current fiscal year, with estimates ranging from $6.98 billion to $7.10 billion. For the next year, analysts anticipate that the company will report sales of $7.29 billion per share, with estimates ranging from $7.21 billion to $7.33 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Dover.
Dover (NYSE:DOV) last released its quarterly earnings results on Friday, April 27th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.03. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.89 billion. Dover had a return on equity of 16.48% and a net margin of 9.71%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 EPS.
Several research analysts have recently issued reports on the company. Stifel Nicolaus cut their price target on Dover from $104.00 to $85.00 and set a “hold” rating for the company in a research note on Thursday, May 10th. ValuEngine downgraded shares of Dover from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Morgan Stanley cut their target price on shares of Dover from $113.00 to $106.00 and set an “overweight” rating for the company in a research note on Monday, April 30th. Citigroup cut their target price on shares of Dover from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Monday, April 30th. Finally, BMO Capital Markets cut their target price on shares of Dover from $118.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, April 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $104.92.
In other Dover news, VP Paul Goldberg sold 3,300 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $102.00, for a total value of $336,600.00. Following the completion of the transaction, the vice president now owns 4,545 shares in the company, valued at approximately $463,590. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Anthony K. Kosinski sold 895 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 8,516 shares of the company’s stock, valued at approximately $888,559.44. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Optimum Investment Advisors purchased a new position in Dover in the 1st quarter worth approximately $104,000. Cerebellum GP LLC acquired a new position in shares of Dover in the 4th quarter valued at approximately $133,000. Tower Research Capital LLC TRC raised its position in shares of Dover by 891.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 1,596 shares in the last quarter. Smithfield Trust Co. raised its position in shares of Dover by 916.7% in the 1st quarter. Smithfield Trust Co. now owns 1,830 shares of the industrial products company’s stock valued at $180,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Somerville Kurt F acquired a new position in shares of Dover in the 4th quarter valued at approximately $202,000. Hedge funds and other institutional investors own 85.65% of the company’s stock.
Shares of Dover traded up $0.48, hitting $80.23, during midday trading on Friday, MarketBeat reports. 1,359,500 shares of the stock were exchanged, compared to its average volume of 1,851,960. The company has a market capitalization of $12.24 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 1.26 and a beta of 1.32. The company has a quick ratio of 0.95, a current ratio of 1.42 and a debt-to-equity ratio of 0.68. Dover has a twelve month low of $62.10 and a twelve month high of $88.11.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Wednesday, May 30th. Dover’s dividend payout ratio is presently 46.65%.
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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