Dover (NYSE:DOV) Releases FY24 Earnings Guidance

Dover (NYSE:DOV) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $9.00-9.15 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Oppenheimer increased their target price on Dover from $187.00 to $197.00 and gave the company an outperform rating in a report on Friday. Mizuho upped their target price on Dover from $180.00 to $185.00 and gave the company a buy rating in a report on Friday. Citigroup increased their target price on shares of Dover from $180.00 to $205.00 and gave the stock a buy rating in a research report on Monday, April 8th. StockNews.com lowered Dover from a buy rating to a hold rating in a report on Friday, March 22nd. Finally, Barclays boosted their target price on Dover from $180.00 to $186.00 and gave the company an equal weight rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Dover has a consensus rating of Moderate Buy and a consensus price target of $185.75.

Dover Stock Up 0.6 %

Dover stock traded up $1.06 during mid-day trading on Friday, hitting $180.17. 1,104,009 shares of the company’s stock were exchanged, compared to its average volume of 968,794. The stock has a market cap of $24.75 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.78 and a beta of 1.27. The stock has a 50 day moving average of $171.75 and a two-hundred day moving average of $154.29. Dover has a 1-year low of $127.25 and a 1-year high of $181.49. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Dover had a return on equity of 25.95% and a net margin of 12.52%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business earned $1.94 EPS. The firm’s revenue was up .7% compared to the same quarter last year. As a group, analysts anticipate that Dover will post 9.07 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.13%. Dover’s dividend payout ratio (DPR) is presently 27.13%.

Insider Buying and Selling at Dover

In related news, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the transaction, the director now owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the transaction, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock worth $4,318,059 over the last ninety days. Company insiders own 1.30% of the company’s stock.

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.