Donaldson Company Trading 3.4% Higher Following Strong Earnings (DCI)
Shares of Donaldson Company (NYSE:DCI) traded up 3.4% during mid-day trading on Wednesday following a stronger than expected earnings report, Analyst Ratings.Net reports. The company traded as high as $42.13 and last traded at $42.07, with a volume of 429,376 shares changing hands. The stock had previously closed at $40.69.
The company reported $0.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.47 by $0.03. The company had revenue of $668.00 million for the quarter, compared to the consensus estimate of $654.67 million. During the same quarter last year, the company posted $0.49 earnings per share. Donaldson Company’s revenue was up 5.6% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 5th. Stockholders of record on Friday, August 15th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Wednesday, August 13th.
Separately, analysts at Acumen Capital raised their price target on shares of Donaldson Company from $24.00 to $25.00 in a research note on Friday, August 15th.
The stock’s 50-day moving average is $40.1 and its 200-day moving average is $41.4. The company has a market cap of $5.990 billion and a P/E ratio of 23.37.
Donaldson Company, Inc (NYSE:DCI) is a worldwide manufacturer of filtration systems and replacement parts.
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