Dover (NYSE:DOV) Issues FY 2024 Earnings Guidance

Dover (NYSE:DOV) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 9.000-9.150 for the period, compared to the consensus EPS estimate of 9.060. The company issued revenue guidance of $8.6 billion-$8.8 billion, compared to the consensus revenue estimate of $8.6 billion.

Dover Stock Down 0.5 %

Shares of NYSE DOV opened at $171.42 on Thursday. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $23.55 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27. The stock’s fifty day simple moving average is $171.04 and its two-hundred day simple moving average is $153.84. Dover has a 12-month low of $127.25 and a 12-month high of $178.28.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.01. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.16 EPS. As a group, analysts expect that Dover will post 9.07 EPS for the current fiscal year.

Dover Announces Dividend

The firm 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 1.19%. Dover’s payout ratio is 27.13%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays raised their price objective on Dover from $163.00 to $180.00 and gave the stock an equal weight rating in a research report on Tuesday, April 2nd. Robert W. Baird lifted their price target on Dover from $175.00 to $185.00 and gave the stock an outperform rating in a research report on Thursday, March 28th. Citigroup lifted their price target on Dover from $180.00 to $205.00 and gave the stock a buy rating in a research report on Monday, April 8th. StockNews.com cut Dover from a buy rating to a hold rating in a research report on Friday, March 22nd. Finally, Royal Bank of Canada lifted their price objective on Dover from $146.00 to $153.00 and gave the company a sector perform rating in a research note on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Dover currently has an average rating of Moderate Buy and a consensus price target of $175.13.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the transaction, the director now owns 22,955 shares in the company, valued at approximately $3,929,666.45. The sale was disclosed in a document filed 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 that occurred on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the sale, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The disclosure for this sale can be found here. Insiders sold a total of 25,910 shares of company stock worth $4,318,059 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

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.