S&P 500   4,280.15
DOW   33,761.05
QQQ   330.39
Is AMC Entertainment Pulling a Fast One on the APEs?
How Much Longer Will It Be Under $1? (Ad)pixel
Boredom, loneliness plague Ukrainian youth near front line
Here is a Simple 4 Stock Portfolio that Can Outperform the Market
High oil prices help Saudi Aramco earn $88B in first half
The Financial Day of Reckoning Has Begun (Ad)
Ship carrying grain for hungry Ethiopia leaves Ukraine
Average US gasoline price falls 45 cents to $4.10 per gallon
Here’s How the Inflation Reduction Act Energizes Power Stock
Trading Millionaire Reveals, “2008 Was My Most Profitable Year” (Ad)
S&P 500   4,280.15
DOW   33,761.05
QQQ   330.39
Is AMC Entertainment Pulling a Fast One on the APEs?
How Much Longer Will It Be Under $1? (Ad)pixel
Boredom, loneliness plague Ukrainian youth near front line
Here is a Simple 4 Stock Portfolio that Can Outperform the Market
High oil prices help Saudi Aramco earn $88B in first half
The Financial Day of Reckoning Has Begun (Ad)
Ship carrying grain for hungry Ethiopia leaves Ukraine
Average US gasoline price falls 45 cents to $4.10 per gallon
Here’s How the Inflation Reduction Act Energizes Power Stock
Trading Millionaire Reveals, “2008 Was My Most Profitable Year” (Ad)
S&P 500   4,280.15
DOW   33,761.05
QQQ   330.39
Is AMC Entertainment Pulling a Fast One on the APEs?
How Much Longer Will It Be Under $1? (Ad)pixel
Boredom, loneliness plague Ukrainian youth near front line
Here is a Simple 4 Stock Portfolio that Can Outperform the Market
High oil prices help Saudi Aramco earn $88B in first half
The Financial Day of Reckoning Has Begun (Ad)
Ship carrying grain for hungry Ethiopia leaves Ukraine
Average US gasoline price falls 45 cents to $4.10 per gallon
Here’s How the Inflation Reduction Act Energizes Power Stock
Trading Millionaire Reveals, “2008 Was My Most Profitable Year” (Ad)
S&P 500   4,280.15
DOW   33,761.05
QQQ   330.39
Is AMC Entertainment Pulling a Fast One on the APEs?
How Much Longer Will It Be Under $1? (Ad)pixel
Boredom, loneliness plague Ukrainian youth near front line
Here is a Simple 4 Stock Portfolio that Can Outperform the Market
High oil prices help Saudi Aramco earn $88B in first half
The Financial Day of Reckoning Has Begun (Ad)
Ship carrying grain for hungry Ethiopia leaves Ukraine
Average US gasoline price falls 45 cents to $4.10 per gallon
Here’s How the Inflation Reduction Act Energizes Power Stock
Trading Millionaire Reveals, “2008 Was My Most Profitable Year” (Ad)

Dividend King Dover Corporation Raises Guidance 

Dividend King Dover Corporation Raises Guidance 

Early-Stage Dover Corporation Rides Demand To New Highs

While still impacted by the global supply chain issues, early cycle companies like Dover Corporation (NYSE: DOV) are proving to be better positioned for the supply chain crunch. The supply chain crunch is underpinned by several trends, one of which is low inventories throughout the system. Low inventory throughout the system has manufacturers scrambling for materials to make new widgets and that brings us back to the point. Dover Corporation manufactures equipment and components for use in a wide variety of industrial, scientific, manufacturing, and commercial/residential refrigeration applications so it is in high demand across all of its end markets. The takeaway, Dover Corporation’s business is booming and only limited by what it can produce and deliver. 

“During the quarter we demonstrated the strength of our portfolio with revenue and new order growth across all five of our operating segments. We improved margins year-over-year despite well-advertised supply chain, logistics, and labor availability challenges that adversely impacted shipment timing and margin performance in several businesses, most notably in our Refrigeration and Food Equipment and Engineered Products segments,” said Dover Corporation CEO Richard J. Tobin. 

Dover Corporation Grows Revenue And Widens Margins 

Dover Corporation is managing its supply chain issues with aplomb and was able to deliver revenue and earnings above expectations. The company reported $2.01 billion in net consolidated revenue which is good for a gain of 14.9% over last year and beat the Marketbeat.com consensus estimate by 100 basis points. The company said it is seeing strength across all segments and expects to see the strength continue into the fourth quarter at least. 


Moving down the report, results were not equal across the network but, on balance, the company was able to improve its operating margins by 165 basis points. The operating margin of 13.08% drove a 31% increase in the GAAP earnings which beat the consensus by $0.18 and includes investment in a capacity expansion that will boost revenue and earnings in future quarters. On an adjusted basis, the $1.98 was also strong and beat the consensus by $0.13. 

Looking forward, the company is expecting strength to continue and has raised its guidance accordingly. The new guidance of $7.45 to $7.50 in adjusted earnings compares well with the previous consensus estimate of $7.42 and has shares moving higher. 

“More positively, our high backlog levels provide beneficial near-term visibility for the remainder of the year and into 2022. As a result, we are raising our full-year EPS guidance," concluded Tobin. 

Dover Corporation Is A king Of Dividend Kings

Dover Corporation is a Dividend King with one of the best-looking dividends in the group. The company has been raising the dividend consecutively for 65 years and it's still only paying 27% of its earnings. That's a testament both to the company's earnings growth as well as its management and has it set up for another 65 years of growth. The distribution is a bit low at 1.2% but is at least in line with the broad market average. The distribution has been growing at an 8% CAGR for the last five years so we're not expecting huge double-digit increases but solid mid-to-high single-digit increases are on the table. As for the balance sheet, the company has got a little bit of debt but the balance sheet is otherwise very strong bordering on fortress-like.

The Technical Outlook: Dover Corporation Will Set A New All-Time High

Shares of Dover Corporation are up more than 2% in the wake of the earnings report and guidance increase and are on track to set a new all-time high. Price action has met some resistance near the current all-time high but momentum is bullish, strong, and growing. In our view, the stock will be testing and setting a new all-time high fairly soon and may continue higher. A break above the $176 level would be bullish and could take the stock up into the range of $200. 

Dividend King Dover Corporation Raises Guidance 

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Dover (DOV)
2.7988 of 5 stars
$139.48+2.2%1.43%17.75Hold$161.17
Compare These Stocks  Add These Stocks to My Watchlist 

Should you invest $1,000 in Dover right now?

Before you consider Dover, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Dover wasn't on the list.

While Dover currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Free Email Newsletter

Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:

Most Read This Week

Recent Articles

Search Headlines:

Latest PodcastInvesting in What You Know Has Changed

What investors can learn from studying the past, as well as offering some ideas about asset classes with future potential.

MarketBeat Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau MarketBeat is rated as Great on TrustPilot

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart's disclaimer.