Q2 2023 EPS Estimates for Dover Co. (NYSE:DOV) Reduced by Analyst

Dover Co. (NYSE:DOV – Get Rating) – Oppenheimer cut their Q2 2023 earnings estimates for Dover in a research report issued on Thursday, March 9th. Oppenheimer analyst B. Blair now forecasts that the industrial products company will post earnings of $2.00 per share for the quarter, down from their prior forecast of $2.28. The consensus estimate for Dover’s current full-year earnings is $8.99 per share.

DOV has been the subject of several other research reports. Barclays increased their target price on shares of Dover from $130.00 to $141.00 and gave the company an “equal weight” rating in a report on Wednesday, February 1st. Robert W. Baird assumed coverage on shares of Dover in a research note on Thursday. They set a “buy” rating and a $176.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Dover from $137.00 to $141.00 in a research note on Monday, December 5th. Citigroup increased their price target on Dover from $175.00 to $184.00 and gave the company a “buy” rating in a report on Monday, March 6th. Finally, StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Friday, December 16th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.75.

Dover Trading Down 2.9 %

NYSE:DOV opened at $145.80 on Monday. The firm has a market cap of $20.37 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.16 and a beta of 1.36. Dover has a 52 week low of $114.49 and a 52 week high of $162.88. The firm’s fifty day moving average is $147.83 and its 200-day moving average is $136.66. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.23.

Dover (NYSE:DOV – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.01. Dover had a net margin of 12.52% and a return on equity of 28.55%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same period last year, the firm posted $1.78 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year.

Institutional Investors Weigh In On Dover

Institutional investors have recently added to or reduced their stakes in the company. MV Capital Management Inc. boosted its holdings in Dover by 308.8% in the third quarter. MV Capital Management Inc. now owns 233 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 176 shares in the last quarter. Ellevest Inc. boosted its holdings in Dover by 47.0% during the third quarter. Ellevest Inc. now owns 244 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 78 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Dover during the fourth quarter valued at about $29,000. Glass Jacobson Investment Advisors llc acquired a new position in shares of Dover during the fourth quarter valued at about $31,000. Finally, Concord Wealth Partners acquired a new position in shares of Dover during the fourth quarter valued at about $41,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be paid a $0.505 dividend. The ex-dividend date of this dividend is Monday, February 27th. This represents a $2.02 dividend on an annualized basis and a yield of 1.39%. Dover’s payout ratio is currently 27.19%.

About Dover

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Dover Corp. operates as a manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services. It operates through the following segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.