Dover (DOV) to Release Quarterly Earnings on Thursday

Dover (NYSE:DOV) is scheduled to be releasing its earnings data before the market opens on Thursday, October 24th. Analysts expect Dover to post earnings of $2.43 per share for the quarter. Dover has set its FY 2024 guidance at 9.050-9.200 EPS and its FY24 guidance at $9.05 to $9.20 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the firm earned $2.05 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts expect Dover to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Dover Price Performance

NYSE DOV opened at $192.79 on Thursday. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Dover has a 12 month low of $127.25 and a 12 month high of $194.75. The stock has a market cap of $26.50 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 2.20 and a beta of 1.22. The company’s 50 day moving average is $184.85 and its two-hundred day moving average is $181.45.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.515 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 annualized dividend and a yield of 1.07%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is currently 19.79%.

Insider Activity

In other news, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,274,887.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,383 shares of company stock valued at $8,169,883. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DOV. Wells Fargo & Company upped their price objective on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Barclays boosted their target price on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Mizuho boosted their price target on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average price target of $196.25.

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.