Donaldson (NYSE:DCI) Updates FY 2022 Earnings Guidance

Donaldson (NYSE:DCIGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.67-$2.73 for the period, compared to the consensus earnings per share estimate of $2.70. The company issued revenue guidance of $3.27 billion-$3.33 billion, compared to the consensus revenue estimate of $3.24 billion.

DCI stock opened at $53.50 on Wednesday. The firm has a 50 day moving average price of $51.08 and a 200-day moving average price of $54.11. Donaldson has a 52-week low of $48.13 and a 52-week high of $69.35. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 1.88 and a beta of 1.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.41 and a current ratio of 2.25.

Donaldson (NYSE:DCIGet Rating) last announced its quarterly earnings data on Wednesday, June 1st. The industrial products company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.05). Donaldson had a return on equity of 28.15% and a net margin of 9.91%. The firm had revenue of $853.20 million during the quarter, compared to analysts’ expectations of $823.99 million. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Donaldson’s revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts forecast that Donaldson will post 2.69 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Thursday, June 9th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 8th. This is a positive change from Donaldson’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 1.72%. Donaldson’s payout ratio is currently 35.06%.

Several equities analysts have recently weighed in on the stock. William Blair reiterated a market perform rating on shares of Donaldson in a research note on Thursday, March 3rd. StockNews.com raised shares of Donaldson from a buy rating to a strong-buy rating in a report on Saturday. Robert W. Baird cut their price objective on shares of Donaldson from $65.00 to $61.00 and set an outperform rating for the company in a report on Thursday, June 2nd. Finally, Morgan Stanley cut their target price on shares of Donaldson from $73.00 to $68.00 and set an overweight rating for the company in a report on Thursday, June 2nd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Donaldson currently has a consensus rating of Buy and an average price target of $63.67.

In related news, Director Willard D. Oberton sold 7,200 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $53.09, for a total transaction of $382,248.00. Following the completion of the sale, the director now directly owns 23,903 shares in the company, valued at $1,269,010.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.52% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC increased its holdings in shares of Donaldson by 2.9% in the 4th quarter. NewEdge Advisors LLC now owns 8,071 shares of the industrial products company’s stock valued at $478,000 after acquiring an additional 231 shares during the last quarter. Comerica Bank grew its holdings in Donaldson by 0.5% during the fourth quarter. Comerica Bank now owns 58,083 shares of the industrial products company’s stock worth $3,221,000 after acquiring an additional 279 shares during the period. Federated Hermes Inc. grew its holdings in Donaldson by 1.4% during the first quarter. Federated Hermes Inc. now owns 21,582 shares of the industrial products company’s stock worth $1,121,000 after acquiring an additional 293 shares during the period. Bank of America Corp DE boosted its position in Donaldson by 0.3% during the first quarter. Bank of America Corp DE now owns 234,417 shares of the industrial products company’s stock worth $12,174,000 after purchasing an additional 611 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in Donaldson by 31.2% during the first quarter. Captrust Financial Advisors now owns 2,618 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 622 shares in the last quarter. 76.84% of the stock is currently owned by institutional investors.

Donaldson Company Profile (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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