Dover (DOV) to Release Earnings on Thursday

Dover (NYSE:DOV) is scheduled to release 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 results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $2.05 earnings per share. 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

NYSE:DOV opened at $191.40 on Wednesday. The company’s 50-day moving average price is $185.95 and its 200-day moving average price is $181.92. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market cap of $26.30 billion, a P/E ratio of 18.39, a P/E/G ratio of 2.20 and a beta of 1.22. Dover has a twelve month low of $127.25 and a twelve month high of $195.68.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.515 dividend. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, August 30th. Dover’s dividend payout ratio (DPR) is currently 19.79%.

Insider Buying and Selling at Dover

In other Dover news, 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 transaction of $801,305.19. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,274,887.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock worth $8,169,883 over the last three months. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on DOV. Barclays raised their price objective on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Robert W. Baird restated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Royal Bank of Canada raised their price objective on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Wolfe Research upgraded shares of Dover to a “hold” rating in a research report on Friday, September 20th. Finally, Mizuho raised their price objective on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus target price of $198.75.

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.