Brokers Offer Predictions for Dover Co.’s Q1 2024 Earnings (NYSE:DOV)

Dover Co. (NYSE:DOV) – Stock analysts at Seaport Res Ptn reduced their Q1 2024 earnings per share (EPS) estimates for shares of Dover in a research report issued on Thursday, April 18th. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will earn $1.86 per share for the quarter, down from their prior forecast of $1.97. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for Dover’s current full-year earnings is $9.06 per share. Seaport Res Ptn also issued estimates for Dover’s Q4 2024 earnings at $2.52 EPS, Q1 2025 earnings at $1.90 EPS, Q3 2025 earnings at $3.05 EPS and Q4 2025 earnings at $2.72 EPS.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm posted $2.16 earnings per share. Dover’s revenue for the quarter was down 1.5% compared to the same quarter last year.

A number of other research firms have also recently weighed in on DOV. Oppenheimer upped their price target on Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank of Canada increased their target price on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Citigroup increased their price target 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. Robert W. Baird boosted their price objective on Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, Barclays increased their target price on Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.13.

Dover Trading Up 0.7 %

Shares of DOV opened at $169.84 on Friday. The stock has a market cap of $23.33 billion, a PE ratio of 22.59, a P/E/G ratio of 1.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. Dover has a 12 month low of $127.25 and a 12 month high of $178.28. The stock’s 50-day moving average is $170.42 and its two-hundred day moving average is $153.04.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.20%. Dover’s dividend payout ratio is presently 27.13%.

Insider Buying and Selling

In other news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the completion of the transaction, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the sale, the chief financial officer now owns 17,909 shares in the company, valued at $3,164,699.39. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the transaction, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock valued at $4,318,059 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dover

A number of institutional investors and hedge funds have recently bought and sold shares of DOV. Orion Capital Management LLC bought a new stake in shares of Dover in the 3rd quarter worth approximately $32,000. Headinvest LLC acquired a new stake in shares of Dover during the 3rd quarter valued at $32,000. Exchange Traded Concepts LLC bought a new stake in shares of Dover during the 4th quarter worth $33,000. AdvisorNet Financial Inc grew its holdings in shares of Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 188 shares during the last quarter. Finally, Life Planning Partners Inc acquired a new stake in shares of Dover during the fourth quarter worth $35,000. 84.46% of the stock is owned by institutional investors and hedge funds.

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.