Zacks: Analysts Anticipate Donaldson Company, Inc. (DCI) Will Announce Quarterly Sales of $634.37 Million
Brokerages expect Donaldson Company, Inc. (NYSE:DCI) to report $634.37 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Donaldson’s earnings, with estimates ranging from $627.10 million to $637.00 million. Donaldson posted sales of $593.80 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.8%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, September 7th.
According to Zacks, analysts expect that Donaldson will report full year sales of $634.37 million for the current year, with estimates ranging from $2.34 billion to $2.35 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.46 billion per share, with estimates ranging from $2.42 billion to $2.49 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Donaldson.
Donaldson (NYSE:DCI) last released its quarterly earnings data on Thursday, June 1st. The industrial products company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. Donaldson had a net margin of 9.72% and a return on equity of 28.12%. The business had revenue of $608.20 million during the quarter, compared to analysts’ expectations of $580.44 million. During the same quarter in the prior year, the company earned $0.43 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis.
A number of brokerages recently weighed in on DCI. Zacks Investment Research downgraded shares of Donaldson from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub downgraded shares of Donaldson from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Stifel Nicolaus reissued a “hold” rating and set a $48.00 target price (up previously from $45.00) on shares of Donaldson in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Donaldson in a research note on Thursday, June 1st. Finally, Jefferies Group LLC raised shares of Donaldson from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Wednesday, May 31st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $48.25.
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In related news, Director John Wiehoff sold 14,400 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $46.33, for a total transaction of $667,152.00. Following the transaction, the director now directly owns 59,001 shares in the company, valued at $2,733,516.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.88% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DCI. Vanguard Group Inc. boosted its position in Donaldson by 1.4% in the second quarter. Vanguard Group Inc. now owns 12,319,252 shares of the industrial products company’s stock worth $561,018,000 after buying an additional 166,412 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Donaldson by 1.9% in the second quarter. BlackRock Inc. now owns 10,590,302 shares of the industrial products company’s stock worth $482,282,000 after buying an additional 199,946 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Donaldson by 25.9% in the first quarter. Bank of New York Mellon Corp now owns 2,411,896 shares of the industrial products company’s stock worth $109,787,000 after buying an additional 496,064 shares during the last quarter. FMR LLC boosted its stake in shares of Donaldson by 1.9% in the second quarter. FMR LLC now owns 1,901,024 shares of the industrial products company’s stock worth $86,573,000 after buying an additional 34,711 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Donaldson by 1.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,841,796 shares of the industrial products company’s stock worth $83,876,000 after buying an additional 30,614 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.
Shares of Donaldson (NYSE:DCI) opened at 46.78 on Wednesday. The company has a market cap of $6.13 billion, a PE ratio of 27.85 and a beta of 1.22. The company has a 50 day moving average of $46.59 and a 200-day moving average of $45.47. Donaldson has a 52-week low of $35.59 and a 52-week high of $48.91.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, August 11th. This is an increase from Donaldson’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a dividend yield of 1.54%. Donaldson’s payout ratio is presently 43.11%.
Donaldson Company Profile
Donaldson Company, Inc is a manufacturer of filtration systems and replacement parts. The Company’s segments include Engine Products, Industrial Products and Corporate. The Company’s products are manufactured at approximately 44 plants around the world and through three joint ventures. The Company offers its products under the Ultra-Web, PowerCore and Donaldson brands.
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