Wall Street brokers predict that Dover Co. (NYSE: DOV) will post $ 1.87 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have released estimates for Dover’s earnings. The lowest sales estimate is $ 1.76 billion and the highest is $ 1.90 billion. Dover posted sales of $ 1.5 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 24.7%. The company is expected to release its next quarterly results on Wednesday July 28.
According to Zacks, analysts expect Dover to report annual sales of $ 7.53 billion for the current year, with estimates ranging from $ 7.49 billion to $ 7.57 billion. For the next fiscal year, analysts predict the company will post revenue of $ 7.87 billion, with estimates ranging from $ 7.62 billion to $ 8.12 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts who cover Dover.
Dover (NYSE: DOV) last released its results on Monday, April 19. The industrials company reported earnings per share of $ 1.81 for the quarter, beating the Zacks consensus estimate of $ 1.45 by $ 0.36. The company posted revenue of $ 1.87 billion in the quarter, compared to a consensus estimate of $ 1.73 billion. Dover had a return on equity of 26.74% and a net margin of 10.73%. Dover’s quarterly revenue increased 12.8% compared to the same quarter last year. In the same quarter of the previous year, the company posted EPS of $ 1.39.
A number of analysts have recently weighed in on the company. Citigroup raised its target price on Dover from $ 159.00 to $ 170.00 in a research report published on Wednesday, April 21. Barclays raised its target price on Dover from $ 155.00 to $ 165.00 and rated the stock “overweight” in a research report published on Wednesday, April 21. JPMorgan Chase & Co. raised its price target on Dover from $ 138.00 to $ 155.00 and rated the stock “overweight” in a Wednesday April 21 research note. Deutsche Bank Aktiengesellschaft raised its price target on Dover from $ 143.00 to $ 150.00 and assigned the stock a “hold” rating in a research note on Monday April 26. Finally, the Royal Bank of Canada raised its price target on Dover from $ 142.00 to $ 149.00 and assigned the stock a “sector performance” rating in a research note on Wednesday April 21. Six equity research analysts rated the stock with a conservation rating and five gave the company’s stock a buy rating. The company currently has a consensus rating of “Hold” and an average target price of $ 149.91.
NYSE: DOV opened at $ 151.24 on Thursday. The stock has a 50-day moving average price of $ 145.72. The company has a market cap of $ 21.77 billion, a P / E ratio of 29.65, a price / earnings-growth ratio of 1.88 and a beta of 1.37. Dover has a one-year low of $ 90.03 and a one-year high of $ 155.77. The company has a quick ratio of 1.08, a current ratio of 1.59, and a debt ratio of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 15. Investors of record on Friday, May 28 will receive a dividend of $ 0.495. The ex-dividend date is Thursday, May 27. This represents an annualized dividend of $ 1.98 and a return of 1.31%. Dover’s payout ratio is 34.92%.
In related news, SVP Ivonne M. Cabrera sold 3,617 shares of the company in a trade on Monday March 8. The stock was sold for an average price of $ 133.00, for a total value of $ 481,061.00. Following the sale, the Senior Vice President now directly owns 21,454 shares of the company, valued at $ 2,853,382. The sale was disclosed in a legal file with the SEC, which is available through the SEC website. 0.97% of the shares are held by insiders of the company.
Institutional investors have recently increased or reduced their stakes in the company. Crédit Agricole SA took a new stake in Douvres in the first quarter for $ 27,000. Concord Wealth Partners purchased a new position in Dover shares during the fourth quarter valued at $ 26,000. Capital Directions Investment Advisors LLC increased its holdings of Dover shares by 100.0% during the fourth quarter. Capital Directions Investment Advisors LLC now owns 220 shares of the industrials company valued at $ 28,000 after purchasing an additional 110 shares in the last quarter. Bogart Wealth LLC purchased a new position in Dover shares during the first quarter valued at $ 30,000. Finally, Mcmillion Capital Management Inc. purchased a new position in Dover shares during the fourth quarter valued at $ 29,000. 83.36% of the shares are currently held by institutional investors and hedge funds.
Dover Corporation provides equipment and components, consumables, replacement parts, software and digital solutions, and support services around the world. The Engineering Products segment provides aftermarket vehicles, solid waste management, industrial automation, aerospace and defense, industrial winches and hoists, bearings, drives, electrical monitoring and distribution systems of fluids.
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