Dover (NYSE:DOV – Get Free Report) posted its quarterly earnings results on Thursday. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07, Briefing.com reports. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.94 earnings per share. Dover updated its FY 2024 guidance to 9.000-9.150 EPS and its FY24 guidance to $9.00-9.15 EPS.
Dover Price Performance
Shares of NYSE:DOV traded up $1.06 during mid-day trading on Friday, reaching $180.17. The stock had a trading volume of 1,104,010 shares, compared to its average volume of 965,152. 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 company has a market cap of $24.75 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 1 year low of $127.25 and a 1 year high of $181.49. The business’s 50 day moving average price is $171.37 and its 200 day moving average price is $154.02.
Dover Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Wednesday, February 28th. Dover’s payout ratio is currently 27.13%.
Insider Buying and Selling at Dover
Analyst Ratings Changes
Several research firms have recently commented on DOV. Barclays increased their price target on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday. Royal Bank of Canada raised their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Citigroup lifted their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Robert W. Baird lifted their target price on shares of Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.
Get Our Latest Analysis 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.
Further Reading
- Five stocks we like better than Dover
- What Are Growth Stocks and Investing in Them
- 3 Stocks Leading the U.S. Agriculture Comeback
- What is the FTSE 100 index?
- How to Use Put Debit Spreads to Profit From Falling Stocks
- How to Use the MarketBeat Dividend Calculator
- Alphabet Changes the Narrative with Its First-Ever Dividend
Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.