Dover (DOV) Set to Announce Quarterly Earnings on Thursday

Dover (NYSE:DOV - Get Free Report) is scheduled to be releasing its earnings data before the market opens on Thursday, October 24th. Analysts expect Dover to post earnings of $2.43 per share for the quarter. Dover has set its FY 2024 guidance at 9.050-9.200 EPS and its FY24 guidance at $9.05 to $9.20 EPS.Persons that are interested in participating in the company's earnings conference call can do so using this link.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. The company's revenue was up 3.7% on a year-over-year basis. On average, analysts expect Dover to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Dover Trading Up 1.1 %

Shares of NYSE DOV traded up $2.09 during trading on Thursday, reaching $194.88. The stock had a trading volume of 879,077 shares, compared to its average volume of 973,681. Dover has a fifty-two week low of $127.25 and a fifty-two week high of $195.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The business's 50-day moving average price is $184.85 and its 200-day moving average price is $181.45. The company has a market cap of $26.78 billion, a P/E ratio of 18.72, a PEG ratio of 2.20 and a beta of 1.22.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.515 dividend. The ex-dividend date was Friday, August 30th. This is a boost from Dover's previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.06%. Dover's payout ratio is presently 19.79%.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares of the company's stock, valued at $2,274,887.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares of the company's stock, valued at $2,274,887.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares of the company's stock, valued at $2,156,700. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock valued at $8,169,883 in the last ninety days. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

DOV has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on Dover from $192.00 to $193.00 and gave the company a "sector perform" rating in a research note on Friday, July 26th. Mizuho lifted their price objective on Dover from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday. Wells Fargo & Company boosted their target price on Dover from $190.00 to $197.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. Wolfe Research raised Dover to a "hold" rating in a research note on Friday, September 20th. Finally, Barclays boosted their target price on Dover from $186.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $198.75.

About Dover

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.