$1.53 EPS Expected for Dover Corp (NYSE:DOV) This Quarter
Wall Street brokerages expect that Dover Corp (NYSE:DOV) will post earnings of $1.53 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Dover’s earnings. The highest EPS estimate is $1.57 and the lowest is $1.50. Dover reported earnings of $1.36 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.5%. The company is expected to announce its next earnings results on Thursday, October 17th.
On average, analysts expect that Dover will report full year earnings of $5.84 per share for the current fiscal year, with EPS estimates ranging from $5.81 to $5.85. For the next year, analysts expect that the company will post earnings of $6.27 per share, with EPS estimates ranging from $6.15 to $6.62. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover Dover.
Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 18th. The industrial products company reported $1.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.01. Dover had a return on equity of 29.22% and a net margin of 8.50%. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year.
In other Dover news, insider Brad M. Cerepak sold 9,918 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $90.93, for a total transaction of $901,843.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Spurgeon sold 20,049 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $98.42, for a total value of $1,973,222.58. Following the sale, the vice president now directly owns 5,296 shares of the company’s stock, valued at approximately $521,232.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,383 shares of company stock valued at $4,385,834. 1.70% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of DOV. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Dover by 1.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 46,521 shares of the industrial products company’s stock worth $4,661,000 after acquiring an additional 524 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Dover in the second quarter worth about $953,000. Boston Partners lifted its stake in shares of Dover by 0.7% in the second quarter. Boston Partners now owns 7,696,715 shares of the industrial products company’s stock worth $771,171,000 after acquiring an additional 54,431 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Dover by 3.1% in the second quarter. BlackRock Inc. now owns 12,354,483 shares of the industrial products company’s stock worth $1,237,921,000 after acquiring an additional 371,171 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its stake in shares of Dover by 20.0% in the second quarter. Cresset Asset Management LLC now owns 3,431 shares of the industrial products company’s stock worth $344,000 after acquiring an additional 571 shares in the last quarter. 86.03% of the stock is owned by institutional investors.
Shares of NYSE:DOV traded up $0.46 during midday trading on Friday, reaching $99.67. The company’s stock had a trading volume of 745,938 shares, compared to its average volume of 988,842. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49. The company has a quick ratio of 0.91, a current ratio of 1.34 and a debt-to-equity ratio of 1.00. Dover has a 1 year low of $65.83 and a 1 year high of $103.47. The business has a 50 day moving average price of $93.00 and a 200 day moving average price of $94.79.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.48. Dover’s payout ratio is 39.44%.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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