Dover (DOV) Updates FY19 Earnings Guidance

Dover (NYSE:DOV) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.65-5.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.72. Dover also updated its FY 2019 guidance to $5.65-5.85 EPS.

DOV stock opened at $96.80 on Thursday. Dover has a twelve month low of $65.83 and a twelve month high of $98.02. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.37 and a quick ratio of 0.96. The company has a market cap of $14.19 billion, a PE ratio of 19.48, a P/E/G ratio of 1.41 and a beta of 1.49.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 18th. The industrial products company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. Dover had a net margin of 7.84% and a return on equity of 24.90%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the company earned $0.90 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Dover will post 5.73 EPS for the current year.

Several equities analysts recently issued reports on the company. Wolfe Research upgraded Dover from a market perform rating to an outperform rating in a research note on Tuesday, January 8th. SunTrust Banks raised their price objective on Dover to $91.00 and gave the stock a hold rating in a research note on Wednesday, January 30th. They noted that the move was a valuation call. Zacks Investment Research cut Dover from a hold rating to a sell rating in a research note on Monday, December 31st. Morgan Stanley raised their price objective on Dover from $92.00 to $97.00 and gave the stock an equal weight rating in a research note on Friday, March 8th. Finally, Oppenheimer restated a hold rating on shares of Dover in a research note on Tuesday, January 29th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $91.03.

In other news, VP Carrie L. Anderson sold 9,038 shares of the firm’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $91.95, for a total transaction of $831,044.10. Following the transaction, the vice president now directly owns 4,192 shares of the company’s stock, valued at $385,454.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Anthony K. Kosinski sold 4,241 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $90.53, for a total value of $383,937.73. The disclosure for this sale can be found here. Insiders sold 48,200 shares of company stock worth $4,277,800 over the last quarter. 1.70% of the stock is currently owned by company insiders.

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Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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Earnings History and Estimates for Dover (NYSE:DOV)

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