Dover (NYSE:DOV) Updates FY24 Earnings Guidance

Dover (NYSE:DOV) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $8.08-8.18 for the period, compared to the consensus EPS estimate of $8.20. Dover also updated its FY 2024 guidance to 8.080-8.180 EPS.

Dover Price Performance

Dover stock traded up $2.20 during mid-day trading on Friday, reaching $186.98. 1,238,384 shares of the company were exchanged, compared to its average volume of 980,425. The firm has a market cap of $25.70 billion, a PE ratio of 18.04, a PEG ratio of 2.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The company has a fifty day simple moving average of $186.66 and a 200-day simple moving average of $182.12. Dover has a 12 month low of $127.25 and a 12 month high of $195.68.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.11. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. As a group, equities research analysts expect that Dover will post 9.18 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 1.10%. Dover’s dividend payout ratio is presently 19.79%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DOV. Robert W. Baird restated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Oppenheimer reiterated an “outperform” rating and set a $215.00 price objective (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday. Mizuho increased their price target on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Barclays boosted their price objective on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus price target of $205.00.

Insider Activity

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,274,887.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,383 shares of company stock valued at $8,169,883. Company insiders own 1.30% of the company’s stock.

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.