Dover (NYSE:DOV – Get Free Report) released its earnings results on Thursday. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07, Briefing.com reports. Dover had a net margin of 12.52% and a return on equity of 25.95%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm earned $1.94 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Dover updated its FY 2024 guidance to 9.000-9.150 EPS and its FY24 guidance to $9.00-9.15 EPS.
Dover Trading Up 1.2 %
NYSE DOV traded up $2.06 on Friday, hitting $181.17. 488,158 shares of the company were exchanged, compared to its average volume of 960,314. The company’s 50 day moving average price is $171.37 and its 200-day moving average price is $154.02. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The firm has a market capitalization of $24.89 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27. Dover has a twelve month low of $127.25 and a twelve month high of $181.49.
Dover Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.51 per share. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.13%. Dover’s payout ratio is presently 27.13%.
Insider Activity
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Mizuho upped their price objective on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird boosted their price target on shares of Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays boosted their price target on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Royal Bank of Canada boosted their price target on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.75.
Read Our Latest Report on Dover
Dover Company Profile
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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