Brokerages expect Dover Co. (NYSE:DOV – Get Rating) to announce sales of $2.03 billion for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Dover’s earnings, with the lowest sales estimate coming in at $1.99 billion and the highest estimate coming in at $2.06 billion. Dover posted sales of $1.87 billion in the same quarter last year, which would indicate a positive year over year growth rate of 8.6%. The company is scheduled to issue its next quarterly earnings results before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Dover will report full-year sales of $8.65 billion for the current fiscal year, with estimates ranging from $8.53 billion to $8.75 billion. For the next financial year, analysts forecast that the business will report sales of $9.07 billion, with estimates ranging from $8.82 billion to $9.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Dover.
Dover (NYSE:DOV – Get Rating) last released its quarterly earnings results on Thursday, January 27th. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.66 by $0.12. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.92 billion. Dover had a net margin of 14.21% and a return on equity of 28.99%. Dover’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 earnings per share.
In other Dover news, VP Anthony K. Kosinski sold 3,287 shares of the stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $153.43, for a total transaction of $504,324.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard J. Tobin sold 31,515 shares of the stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $156.91, for a total transaction of $4,945,018.65. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in DOV. Selective Wealth Management Inc. purchased a new position in Dover during the 4th quarter worth approximately $27,000. First Community Trust NA purchased a new position in Dover during the 4th quarter worth approximately $30,000. Richwood Investment Advisors LLC purchased a new position in Dover during the 4th quarter worth approximately $31,000. CVA Family Office LLC purchased a new position in Dover during the 4th quarter worth approximately $35,000. Finally, Allworth Financial LP raised its position in Dover by 45.2% during the 4th quarter. Allworth Financial LP now owns 196 shares of the industrial products company’s stock worth $36,000 after buying an additional 61 shares during the last quarter. 82.30% of the stock is owned by hedge funds and other institutional investors.
Dover stock traded up $4.01 during mid-day trading on Friday, reaching $150.63. 9,374 shares of the company’s stock traded hands, compared to its average volume of 814,235. The company has a market cap of $21.70 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.22 and a beta of 1.40. The stock has a 50 day moving average of $155.69 and a two-hundred day moving average of $165.76. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.72. Dover has a 12-month low of $138.87 and a 12-month high of $184.04.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Monday, February 28th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, February 25th. Dover’s payout ratio is 25.87%.
Dover Company Profile (Get Rating)
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.
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