Dover Co. (NYSE:DOV) Expected to Post Quarterly Sales of $1.74 Billion


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Equities analysts expect Dover Co. (NYSE:DOV) to announce $1.74 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Dover’s earnings, with estimates ranging from $1.70 billion to $1.81 billion. Dover posted sales of $1.66 billion in the same quarter last year, which would indicate a positive year over year growth rate of 4.8%. The firm is expected to report its next quarterly earnings results on Tuesday, April 20th.

On average, analysts expect that Dover will report full year sales of $7.25 billion for the current fiscal year, with estimates ranging from $7.18 billion to $7.29 billion. For the next year, analysts anticipate that the firm will report sales of $7.53 billion, with estimates ranging from $7.47 billion to $7.64 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Dover.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 28th. The industrial products company reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.17. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.72 billion. Dover had a return on equity of 26.73% and a net margin of 10.02%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.54 earnings per share.

Several research firms have recently commented on DOV. Barclays boosted their price objective on Dover from $138.00 to $141.00 and gave the company an “overweight” rating in a report on Tuesday, January 5th. Morgan Stanley upped their price target on Dover from $134.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, January 29th. Oppenheimer reiterated a “hold” rating on shares of Dover in a report on Wednesday, January 27th. Wolfe Research downgraded Dover from an “outperform” rating to a “peer perform” rating and upped their price target for the stock from $122.00 to $135.00 in a report on Tuesday, December 8th. Finally, Robert W. Baird upped their price target on Dover from $129.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, November 19th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $121.45.

In related news, CFO Brad M. Cerepak sold 33,668 shares of the stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $123.56, for a total transaction of $4,160,018.08. Following the sale, the chief financial officer now owns 83,841 shares of the company’s stock, valued at approximately $10,359,393.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.98% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC raised its holdings in shares of Dover by 2.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 3,761 shares of the industrial products company’s stock valued at $468,000 after acquiring an additional 85 shares in the last quarter. TRUE Private Wealth Advisors raised its holdings in shares of Dover by 8.9% in the 4th quarter. TRUE Private Wealth Advisors now owns 1,098 shares of the industrial products company’s stock valued at $138,000 after acquiring an additional 90 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp raised its holdings in shares of Dover by 1.7% in the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 5,597 shares of the industrial products company’s stock valued at $606,000 after acquiring an additional 92 shares in the last quarter. Peapack Gladstone Financial Corp raised its holdings in shares of Dover by 1.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,583 shares of the industrial products company’s stock valued at $605,000 after acquiring an additional 94 shares in the last quarter. Finally, Sonora Investment Management LLC raised its holdings in shares of Dover by 3.7% in the 4th quarter. Sonora Investment Management LLC now owns 2,797 shares of the industrial products company’s stock valued at $353,000 after acquiring an additional 100 shares in the last quarter. 82.70% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE DOV traded down $0.16 during midday trading on Tuesday, hitting $121.98. 804,243 shares of the stock traded hands, compared to its average volume of 743,058. The company has a market cap of $17.52 billion, a PE ratio of 26.47, a P/E/G ratio of 1.78 and a beta of 1.30. Dover has a one year low of $62.95 and a one year high of $130.41. The business has a 50 day moving average price of $123.43 and a two-hundred day moving average price of $117.74. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.00 and a current ratio of 1.47.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 15th. Investors of record on Friday, March 5th will be issued a dividend of $0.495 per share. The ex-dividend date of this dividend is Thursday, February 25th. This represents a $1.98 dividend on an annualized basis and a yield of 1.62%. Dover’s dividend payout ratio (DPR) is 33.39%.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems.

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Earnings History and Estimates for Dover (NYSE:DOV)

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