Dover Co. (NYSE:DOV) to Post Q2 2024 Earnings of $2.21 Per Share, Zacks Research Forecasts

Dover Co. (NYSE:DOV) – Investment analysts at Zacks Research reduced their Q2 2024 earnings estimates for Dover in a research report issued to clients and investors on Friday, April 19th. Zacks Research analyst S. Deb now forecasts that the industrial products company will earn $2.21 per share for the quarter, down from their previous forecast of $2.22. The consensus estimate for Dover’s current full-year earnings is $9.06 per share. Zacks Research also issued estimates for Dover’s Q3 2024 earnings at $2.44 EPS, FY2024 earnings at $9.04 EPS and Q4 2025 earnings at $2.59 EPS.

Dover (NYSE:DOV) last issued its earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. Dover’s revenue was down 1.5% on a year-over-year basis.

DOV has been the topic of a number of other reports. Barclays raised their price objective on shares of Dover from $163.00 to $180.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada raised their price objective on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Robert W. Baird increased their target price on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Finally, Citigroup increased their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.13.

Dover Stock Up 0.7 %

Dover stock opened at $169.84 on Monday. Dover has a 1-year low of $127.25 and a 1-year high of $178.28. The firm has a market capitalization of $23.33 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27. The firm’s fifty day moving average price is $170.42 and its two-hundred day moving average price is $153.26. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.20%. Dover’s dividend payout ratio (DPR) is currently 27.13%.

Insider Activity

In other Dover news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Dover news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Orion Capital Management LLC purchased a new position in shares of Dover in the third quarter worth $32,000. Headinvest LLC purchased a new position in shares of Dover in the third quarter worth $32,000. Exchange Traded Concepts LLC purchased a new position in shares of Dover in the fourth quarter worth $33,000. AdvisorNet Financial Inc increased its stake in shares of Dover by 783.3% in the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after buying an additional 188 shares during the period. Finally, Life Planning Partners Inc purchased a new position in shares of Dover in the fourth quarter worth $35,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.