Dover (NYSE:DOV) issued an update on its FY20 earnings guidance on Monday morning. The company provided earnings per share guidance of $5.00-5.25 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.21.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised Dover from a hold rating to a buy rating and set a $107.00 target price on the stock in a report on Thursday, July 16th. Seaport Global Securities reissued a neutral rating on shares of Dover in a research note on Thursday, July 23rd. Morgan Stanley lifted their price target on Dover from $107.00 to $117.00 and gave the stock an overweight rating in a research note on Thursday, July 23rd. Oppenheimer reissued a hold rating on shares of Dover in a research note on Wednesday, July 22nd. Finally, Robert W. Baird raised Dover from a neutral rating to an outperform rating and set a $123.00 target price on the stock in a research note on Friday, July 17th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Buy and an average price target of $102.11.
DOV stock traded up $0.49 during mid-day trading on Monday, reaching $113.29. The company had a trading volume of 2,286 shares, compared to its average volume of 976,233. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.32 and a quick ratio of 0.91. The stock has a 50 day simple moving average of $108.71 and a two-hundred day simple moving average of $97.00. The company has a market capitalization of $16.24 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.89 and a beta of 1.42. Dover has a 52 week low of $62.95 and a 52 week high of $120.26.
Dover (NYSE:DOV) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.20. Dover had a return on equity of 27.33% and a net margin of 9.99%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the firm posted $1.56 earnings per share. The business’s revenue was down 20.3% on a year-over-year basis. On average, equities analysts predict that Dover will post 5.19 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.495 per share. This is a boost from Dover’s previous quarterly dividend of $0.49. This represents a $1.98 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Friday, August 28th. Dover’s dividend payout ratio (DPR) is presently 33.39%.
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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