Donaldson (NYSE:DCI) Announces Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Donaldson (NYSE:DCI – Get Rating) announced its quarterly earnings results on Wednesday. The industrial products company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.05), MarketWatch Earnings reports. Donaldson had a return on equity of 28.09% and a net margin of 10.24%. The company had revenue of $853.20 million for the quarter, compared to analyst estimates of $823.99 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. Donaldson’s revenue was up 11.5% compared to the same quarter last year. Donaldson updated its FY 2022 guidance to $2.67-$2.73 EPS and its FY22 guidance to $2.67-2.73 EPS.

Shares of NYSE:DCI traded down $1.89 during trading on Wednesday, reaching $50.39. The stock had a trading volume of 3,319 shares, compared to its average volume of 329,529. The business has a fifty day moving average price of $51.05 and a 200-day moving average price of $54.42. The company has a quick ratio of 1.31, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The stock has a market cap of $6.23 billion, a P/E ratio of 20.91, a PEG ratio of 1.85 and a beta of 1.28. Donaldson has a fifty-two week low of $48.13 and a fifty-two week high of $69.35.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Thursday, June 9th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Wednesday, June 8th. This is an increase from Donaldson’s previous quarterly dividend of $0.22. Donaldson’s dividend payout ratio is 35.20%.

Several large investors have recently bought and sold shares of DCI. Quantbot Technologies LP raised its position in shares of Donaldson by 103.7% in the first quarter. Quantbot Technologies LP now owns 2,426 shares of the industrial products company’s stock valued at $125,000 after buying an additional 1,235 shares during the last quarter. Covestor Ltd raised its position in shares of Donaldson by 128.4% in the first quarter. Covestor Ltd now owns 2,417 shares of the industrial products company’s stock valued at $126,000 after buying an additional 1,359 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Donaldson by 31.2% in the first quarter. Captrust Financial Advisors now owns 2,618 shares of the industrial products company’s stock valued at $136,000 after buying an additional 622 shares during the last quarter. Titleist Asset Management LTD. acquired a new position in shares of Donaldson in the fourth quarter valued at approximately $203,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Donaldson in the first quarter valued at approximately $204,000. 76.84% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have commented on DCI shares. StockNews.com lowered shares of Donaldson from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 27th. Robert W. Baird decreased their price objective on shares of Donaldson from $70.00 to $65.00 in a report on Thursday, March 3rd. Finally, William Blair reaffirmed a “market perform” rating on shares of Donaldson in a report on Thursday, March 3rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $66.67.

About Donaldson (Get Rating)

Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through two segments, Engine Products and Industrial Products. Its Engine Products segment provides replacement filters for air and liquid filtration applications; air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.

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