Dover (NYSE:DOV - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $9.00-9.15 for the period, compared to the consensus EPS estimate of $9.06. The company issued revenue guidance of ~$8.61-8.78 billion, compared to the consensus revenue estimate of $8.57 billion. Dover also updated its FY 2024 guidance to 9.000-9.150 EPS.
Dover Stock Up 4.5 %
Dover stock traded up $7.63 on Thursday, hitting $179.07. 2,230,151 shares of the stock traded hands, compared to its average volume of 966,180. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. The firm has a market cap of $24.60 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27. The business's fifty day simple moving average is $171.37 and its 200 day simple moving average is $154.02. Dover has a 1 year low of $127.25 and a 1 year high of $181.49.
Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.01. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. Dover's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 EPS. As a group, sell-side analysts forecast that Dover will post 9.07 earnings per share for the current year.
Dover Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover's dividend payout ratio is presently 27.13%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on DOV. Seaport Res Ptn upgraded Dover from a neutral rating to a buy rating in a research note on Monday, February 5th. Oppenheimer boosted their price target on Dover from $177.00 to $187.00 and gave the stock an outperform rating in a report on Thursday, April 18th. Citigroup increased their target price on Dover from $180.00 to $205.00 and gave the company a buy rating in a research report on Monday, April 8th. StockNews.com downgraded Dover from a buy rating to a hold rating in a research report on Friday, March 22nd. Finally, Robert W. Baird raised their price target on Dover from $175.00 to $185.00 and gave the stock an outperform rating in a research report on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $175.13.
Check Out Our Latest Stock Report on DOV
Insider Activity
In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the transaction, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Dover news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $171.19, for a total value of $256,785.00. Following the transaction, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the firm's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the completion of the sale, the chief financial officer now directly owns 23,909 shares of the company's stock, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,910 shares of company stock worth $4,318,059. Company insiders own 1.30% of the company's stock.
Dover Company Profile
(
Get Free Report)
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.
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