Dover (DOV) Scheduled to Post 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 wish to listen to the company’s conference call can do so using this link.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. Dover’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 EPS. On average, analysts expect Dover to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Dover Price Performance

Shares of NYSE DOV opened at $192.79 on Thursday. The stock has a fifty day moving average of $184.85 and a 200-day moving average of $181.45. The stock has a market cap of $26.50 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $194.75.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.515 dividend. This is a positive change from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Friday, August 30th. Dover’s dividend payout ratio (DPR) is 19.79%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DOV. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday. Mizuho increased their price target on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Barclays increased their target price on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Finally, Wells Fargo & Company increased their price objective on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $196.25.

Insider Transactions at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at $33,285,578.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is currently owned by insiders.

About Dover

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.