Zacks: Analysts Anticipate Dorman Products Inc. (NASDAQ:DORM) to Post $0.89 Earnings Per Share

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Equities analysts predict that Dorman Products Inc. (NASDAQ:DORM) will post $0.89 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Dorman Products’ earnings. The highest EPS estimate is $0.94 and the lowest is $0.81. Dorman Products posted earnings of $1.06 per share in the same quarter last year, which indicates a negative year over year growth rate of 16%. The business is scheduled to report its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Dorman Products will report full-year earnings of $3.33 per share for the current fiscal year, with EPS estimates ranging from $3.26 to $3.40. For the next year, analysts forecast that the firm will report earnings of $4.34 per share, with EPS estimates ranging from $3.86 to $4.67. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Dorman Products.

Dorman Products (NASDAQ:DORM) last issued its quarterly earnings results on Tuesday, July 30th. The auto parts company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.48). Dorman Products had a return on equity of 16.36% and a net margin of 11.28%. The firm had revenue of $254.18 million for the quarter, compared to the consensus estimate of $263.68 million. During the same period last year, the company posted $1.09 EPS. The business’s revenue was up 6.7% on a year-over-year basis.

A number of analysts have recently weighed in on DORM shares. Barrington Research reiterated a “hold” rating on shares of Dorman Products in a research report on Monday, July 29th. BidaskClub cut shares of Dorman Products from a “hold” rating to a “sell” rating in a research report on Saturday. ValuEngine cut shares of Dorman Products from a “buy” rating to a “hold” rating in a research report on Monday, July 8th. Finally, Zacks Investment Research cut shares of Dorman Products from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $56.50.

Shares of Dorman Products stock opened at $70.34 on Monday. The company has a 50 day moving average of $77.69 and a 200-day moving average of $84.25. Dorman Products has a 1-year low of $65.68 and a 1-year high of $97.38. The company has a market cap of $2.40 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.69 and a beta of 0.57.

A number of hedge funds have recently added to or reduced their stakes in DORM. Royal Bank of Canada boosted its stake in Dorman Products by 2.2% during the second quarter. Royal Bank of Canada now owns 361,772 shares of the auto parts company’s stock worth $31,525,000 after acquiring an additional 7,847 shares in the last quarter. Eaton Vance Management bought a new position in Dorman Products during the second quarter worth $9,827,000. BRYN MAWR TRUST Co boosted its stake in Dorman Products by 0.6% during the second quarter. BRYN MAWR TRUST Co now owns 37,651 shares of the auto parts company’s stock worth $3,281,000 after acquiring an additional 225 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Dorman Products during the second quarter worth $1,037,000. Finally, Nuveen Asset Management LLC bought a new position in Dorman Products during the second quarter worth $10,195,000. Institutional investors and hedge funds own 79.19% of the company’s stock.

Dorman Products Company Profile

Dorman Products, Inc supplies automotive replacement parts, automotive hardware, and brake products to the automotive aftermarket and mass merchandise markets in the United States, Canada, Mexico, Europe, the Middle East, and Australia. It offers original equipment dealer products, such as intake manifolds, exhaust manifolds, window regulators, radiator fan assemblies, tire pressure monitor sensors, exhaust gas recirculation coolers, and complex electronics modules; fluid reservoirs, variable valve timing components, complex electronics, and integrated door lock actuators; and fasteners, including oil drain plugs, wheel bolts, and wheel lug nuts.

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Earnings History and Estimates for Dorman Products (NASDAQ:DORM)

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