Wall Street brokerages expect Dover Co. (NYSE:DOV) to report earnings per share (EPS) of $1.15 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Dover’s earnings. The lowest EPS estimate is $1.11 and the highest is $1.18. Dover posted earnings of $0.70 per share in the same quarter last year, which suggests a positive year over year growth rate of 64.3%. The business is scheduled to issue its next quarterly earnings report before the market opens on Friday, April 27th.
On average, analysts expect that Dover will report full-year earnings of $5.86 per share for the current fiscal year, with EPS estimates ranging from $5.80 to $5.94. For the next financial year, analysts forecast that the firm will post earnings of $6.41 per share, with EPS estimates ranging from $6.30 to $6.60. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Dover.
Dover (NYSE:DOV) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.09. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. Dover had a net margin of 10.37% and a return on equity of 15.24%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share.
DOV has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “hold” rating and set a $100.00 price objective on shares of Dover in a report on Thursday, January 4th. Stifel Nicolaus reissued a “hold” rating and issued a $112.00 price target (up from $100.00) on shares of Dover in a report on Tuesday, January 16th. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a report on Friday, January 19th. UBS assumed coverage on shares of Dover in a report on Monday, January 22nd. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets reissued a “buy” rating on shares of Dover in a report on Friday, January 26th. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $107.00.
In other Dover news, SVP Patrick Burns purchased 510 shares of Dover stock in a transaction on Friday, March 2nd. The shares were acquired at an average cost of $97.51 per share, for a total transaction of $49,730.10. Following the completion of the transaction, the senior vice president now directly owns 1,883 shares of the company’s stock, valued at $183,611.33. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Anthony K. Kosinski sold 895 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $104.34, for a total transaction of $93,384.30. Following the transaction, the vice president now owns 8,516 shares in the company, valued at $888,559.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,897 shares of company stock worth $2,031,745. 2.50% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Cerebellum GP LLC purchased a new stake in Dover in the fourth quarter worth $133,000. Tower Research Capital LLC TRC lifted its stake in Dover by 891.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 1,596 shares during the period. Somerville Kurt F purchased a new stake in Dover in the fourth quarter worth $202,000. Associated Banc Corp purchased a new stake in Dover in the fourth quarter worth $202,000. Finally, Hemenway Trust Co LLC purchased a new stake in Dover in the fourth quarter worth $203,000. Hedge funds and other institutional investors own 88.19% of the company’s stock.
NYSE DOV traded up $0.02 during trading on Friday, hitting $96.02. 1,317,571 shares of the company’s stock traded hands, compared to its average volume of 1,371,315. The company has a market cap of $14,823.20, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.26 and a beta of 1.30. Dover has a 12-month low of $76.47 and a 12-month high of $109.06. The company has a quick ratio of 1.01, a current ratio of 1.40 and a debt-to-equity ratio of 0.68.
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Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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