Dover (DOV) Set to Announce Earnings on Thursday

Dover (NYSE:DOV) will be releasing its earnings data before the market opens on Thursday, April 25th. Analysts expect Dover to post earnings of $1.91 per share for the quarter. Dover has set its FY 2024 guidance at 8.950-9.150 EPS and its FY24 guidance at $8.95-$9.15 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Dover (NYSE:DOV) last announced its quarterly earnings data 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. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 EPS. On average, analysts expect Dover to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Dover Stock Performance

Shares of DOV opened at $170.28 on Tuesday. The firm’s 50 day moving average is $170.59 and its 200-day moving average is $153.48. The stock has a market capitalization of $23.39 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. Dover has a 12-month low of $127.25 and a 12-month high of $178.28.

Dover Dividend Announcement

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

Insider Transactions at Dover

In related news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the sale, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DOV has been the topic of several analyst reports. Robert W. Baird lifted their target price on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Royal Bank of Canada lifted their target price on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Citigroup lifted their target price on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Oppenheimer boosted their price objective on shares of Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.13.

About Dover

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.