Brokerages expect Dover Co. (NYSE:DOV) to post sales of $1.78 billion for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Dover’s earnings, with the highest sales estimate coming in at $1.80 billion and the lowest estimate coming in at $1.78 billion. Dover reported sales of $1.99 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 10.6%. The firm is expected to report its next earnings report on Thursday, July 19th.
On average, analysts expect that Dover will report full year sales of $7.05 billion for the current financial year, with estimates ranging from $6.98 billion to $7.10 billion. For the next financial year, analysts forecast that the company will post sales of $7.29 billion per share, with estimates ranging from $7.21 billion to $7.33 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Dover.
Dover (NYSE:DOV) last posted its earnings results on Friday, April 27th. The industrial products company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.03. Dover had a net margin of 9.71% and a return on equity of 16.48%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the firm earned $1.09 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year.
DOV has been the topic of several recent analyst reports. BMO Capital Markets reissued a “buy” rating on shares of Dover in a research report on Friday, January 26th. SunTrust Banks lifted their target price on shares of Dover to $106.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Morgan Stanley lifted their target price on shares of Dover from $110.00 to $113.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Seaport Global Securities reaffirmed a “hold” rating and issued a $110.00 price target on shares of Dover in a report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $104.92.
Shares of Dover stock traded up $0.48 during mid-day trading on Friday, hitting $80.23. 1,359,500 shares of the stock were exchanged, compared to its average volume of 1,851,960. Dover has a 12 month low of $62.10 and a 12 month high of $88.11. The company has a quick ratio of 0.95, a current ratio of 1.42 and a debt-to-equity ratio of 0.68. The stock has a market cap of $12.24 billion, a P/E ratio of 19.91, a P/E/G ratio of 1.26 and a beta of 1.32.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.34%. Dover’s dividend payout ratio (DPR) is presently 46.65%.
In other Dover news, SVP Patrick Burns acquired 510 shares of Dover stock in a transaction that occurred on Friday, March 2nd. The stock was acquired at an average cost of $97.51 per share, for a total transaction of $49,730.10. Following the purchase, the senior vice president now owns 1,883 shares of the company’s stock, valued at $183,611.33. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul Goldberg sold 3,300 shares of Dover stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $102.00, for a total transaction of $336,600.00. Following the completion of the transaction, the vice president now owns 4,545 shares of the company’s stock, valued at $463,590. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. NewFocus Financial Group LLC grew its stake in Dover by 1.4% in the 4th quarter. NewFocus Financial Group LLC now owns 39,187 shares of the industrial products company’s stock valued at $3,957,000 after buying an additional 528 shares in the last quarter. Reilly Herbert Faulkner III grew its position in shares of Dover by 1.1% during the 4th quarter. Reilly Herbert Faulkner III now owns 47,655 shares of the industrial products company’s stock valued at $4,813,000 after purchasing an additional 529 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Dover by 4.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 13,707 shares of the industrial products company’s stock valued at $1,384,000 after purchasing an additional 584 shares in the last quarter. Global Financial Private Capital LLC grew its position in shares of Dover by 15.8% during the 4th quarter. Global Financial Private Capital LLC now owns 4,526 shares of the industrial products company’s stock valued at $457,000 after purchasing an additional 616 shares in the last quarter. Finally, Nuance Investments LLC grew its position in shares of Dover by 1.6% during the 4th quarter. Nuance Investments LLC now owns 40,563 shares of the industrial products company’s stock valued at $4,096,000 after purchasing an additional 651 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.
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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