$1.90 Billion in Sales Expected for Dover Corp (DOV) This Quarter
Brokerages expect that Dover Corp (NYSE:DOV) will post $1.90 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Dover’s earnings. The highest sales estimate is $1.93 billion and the lowest is $1.88 billion. Dover posted sales of $1.81 billion in the same quarter last year, which suggests a positive year over year growth rate of 5%. The business is scheduled to issue its next quarterly earnings results on Thursday, April 19th.
According to Zacks, analysts expect that Dover will report full year sales of $1.90 billion for the current year, with estimates ranging from $8.12 billion to $8.21 billion. For the next financial year, analysts forecast that the firm will report sales of $8.51 billion per share, with estimates ranging from $8.42 billion to $8.66 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Dover.
Dover (NYSE:DOV) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.09. Dover had a net margin of 10.37% and a return on equity of 15.24%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year.
In related news, SVP Stephen Gary Kennon sold 2,359 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $94.40, for a total transaction of $222,689.60. Following the completion of the sale, the senior vice president now directly owns 5,192 shares in the company, valued at approximately $490,124.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP William T. Bosway sold 6,087 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total transaction of $576,195.42. Following the sale, the vice president now owns 21,877 shares of the company’s stock, valued at $2,070,876.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,876 shares of company stock valued at $1,026,090. Company insiders own 2.50% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its holdings in Dover by 49.7% during the 3rd quarter. Janus Henderson Group PLC now owns 40,198 shares of the industrial products company’s stock valued at $3,673,000 after buying an additional 13,344 shares during the last quarter. Magnetar Financial LLC bought a new stake in Dover during the 3rd quarter valued at $22,066,000. Victory Capital Management Inc. raised its holdings in Dover by 21.7% during the 3rd quarter. Victory Capital Management Inc. now owns 25,466 shares of the industrial products company’s stock valued at $2,327,000 after buying an additional 4,534 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in Dover during the 3rd quarter valued at $371,000. Finally, Third Point LLC bought a new stake in Dover during the 3rd quarter valued at $150,794,000. Institutional investors own 84.45% of the company’s stock.
Dover (NYSE:DOV) traded up $1.15 during mid-day trading on Tuesday, reaching $97.35. 1,775,853 shares of the company’s stock were exchanged, compared to its average volume of 1,286,042. The company has a current ratio of 1.40, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. Dover has a fifty-two week low of $75.51 and a fifty-two week high of $109.06. The stock has a market cap of $15,170.00, a PE ratio of 18.90, a PEG ratio of 1.31 and a beta of 1.28.
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Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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