Dover (DOV) to Release Quarterly Earnings on Thursday

Dover (NYSE:DOV) will announce its earnings results before the market opens on Thursday, October 24th. Analysts expect the company to announce 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.Investors that are interested in participating in the company’s conference call can do so using this link.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The firm’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 Stock Down 0.7 %

Shares of Dover stock opened at $191.40 on Wednesday. Dover has a 52-week low of $127.25 and a 52-week high of $195.68. The company has a 50 day moving average of $185.95 and a 200 day moving average of $181.92. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The company has a market capitalization 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 Increases Dividend

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

Insider Buying and Selling at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. 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 $8,169,883. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on DOV shares. Wolfe Research upgraded shares of Dover to a “hold” rating in a research note on Friday, September 20th. Royal Bank of Canada boosted 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. Oppenheimer restated an “outperform” rating and set a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Barclays boosted 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. Finally, Wells Fargo & Company boosted their price objective on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.