Dover Corp (NYSE:DOV) Expected to Post Quarterly Sales of $1.86 Billion

Wall Street analysts predict that Dover Corp (NYSE:DOV) will report $1.86 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Dover’s earnings, with the highest sales estimate coming in at $1.88 billion and the lowest estimate coming in at $1.84 billion. Dover posted sales of $1.80 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.3%. The business is expected to announce its next quarterly earnings results on Thursday, July 18th.

On average, analysts expect that Dover will report full-year sales of $7.25 billion for the current fiscal year, with estimates ranging from $7.22 billion to $7.31 billion. For the next fiscal year, analysts expect that the firm will report sales of $7.50 billion, with estimates ranging from $7.38 billion to $7.59 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Dover.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 18th. The industrial products company reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.12. Dover had a net margin of 7.69% and a return on equity of 28.48%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the prior year, the business posted $0.90 earnings per share. Dover’s revenue for the quarter was up 5.3% compared to the same quarter last year.

DOV has been the topic of a number of research reports. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Wednesday, March 27th. Barclays upped their price target on shares of Dover from $93.00 to $99.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Robert W. Baird downgraded shares of Dover from an “outperform” rating to a “neutral” rating in a research note on Monday, April 22nd. Morgan Stanley upped their price target on shares of Dover from $97.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Monday, April 22nd. Finally, Deutsche Bank set a $102.00 price target on shares of Dover and gave the stock a “hold” rating in a research note on Monday, April 22nd. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Dover has a consensus rating of “Hold” and a consensus price target of $94.10.

Institutional investors have recently bought and sold shares of the business. Riverview Trust Co bought a new stake in shares of Dover in the fourth quarter valued at about $26,000. Capital Financial Planning LLC bought a new stake in shares of Dover in the fourth quarter valued at about $27,000. Pinnacle Bank bought a new stake in shares of Dover in the fourth quarter valued at about $28,000. CWM LLC lifted its stake in shares of Dover by 378.6% in the first quarter. CWM LLC now owns 493 shares of the industrial products company’s stock valued at $46,000 after buying an additional 390 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Dover in the first quarter valued at about $55,000. 84.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE DOV traded down $1.85 during mid-day trading on Wednesday, reaching $98.54. The company had a trading volume of 991,646 shares, compared to its average volume of 1,017,705. Dover has a twelve month low of $65.83 and a twelve month high of $103.47. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.30 and a quick ratio of 0.87. The firm has a market capitalization of $14.56 billion, a PE ratio of 19.84, a PEG ratio of 1.53 and a beta of 1.49. The stock has a 50 day simple moving average of $96.23.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, May 30th. Dover’s payout ratio is 38.63%.

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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