Dover (DOV) Updates FY 2019 Earnings Guidance

Dover (NYSE:DOV) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.65-5.85 for the period, compared to the Thomson Reuters consensus estimate of $5.72. Dover also updated its FY19 guidance to $5.65-5.85 EPS.

Shares of Dover stock traded up $0.57 during trading hours on Friday, reaching $96.81. The company’s stock had a trading volume of 1,075,840 shares, compared to its average volume of 1,030,732. Dover has a one year low of $65.83 and a one year high of $99.46. The company has a quick ratio of 0.87, a current ratio of 1.30 and a debt-to-equity ratio of 1.04. The company has a market cap of $14.07 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.46 and a beta of 1.49.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 18th. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.12. Dover had a net margin of 7.69% and a return on equity of 28.48%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts expect that Dover will post 5.81 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.92 dividend on an annualized basis and a yield of 1.98%. Dover’s payout ratio is 38.63%.

A number of research analysts have issued reports on the stock. SunTrust Banks upped their price target on shares of Dover to $91.00 and gave the company a hold rating in a research note on Wednesday, January 30th. They noted that the move was a valuation call. Morgan Stanley upped their price objective on shares of Dover from $97.00 to $101.00 and gave the company an equal weight rating in a report on Monday, April 22nd. Zacks Investment Research raised shares of Dover from a sell rating to a hold rating in a report on Friday, January 11th. Oppenheimer reaffirmed a hold rating on shares of Dover in a report on Tuesday, January 29th. Finally, Citigroup set a $113.00 price target on shares of Dover and gave the stock a buy rating in a report on Monday, April 22nd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Dover currently has a consensus rating of Hold and an average price target of $94.10.

In other news, VP Anthony K. Kosinski sold 4,241 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $90.53, for a total value of $383,937.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ivonne M. Cabrera sold 7,272 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $88.23, for a total transaction of $641,608.56. Following the sale, the insider now owns 12,908 shares of the company’s stock, valued at $1,138,872.84. The disclosure for this sale can be found here. Insiders sold 22,735 shares of company stock valued at $2,053,303 over the last quarter. Company insiders own 1.70% of the company’s stock.

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Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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Earnings History and Estimates for Dover (NYSE:DOV)

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