Dover (NYSE:DOV) Issues FY24 Earnings Guidance

Dover (NYSE:DOV) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $9.05 to $9.20 for the period, compared to the consensus EPS estimate of $9.10. The company issued revenue guidance of $8.691 billion to $8.776 billion, compared to the consensus revenue estimate of $8.63 billion. Dover also updated its FY 2024 guidance to 9.050-9.200 EPS.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DOV. Barclays raised their price target on shares of Dover from $180.00 to $186.00 and gave the company an equal weight rating in a research note on Friday, April 26th. Mizuho raised their price target on shares of Dover from $185.00 to $200.00 and gave the company an outperform rating in a research note on Friday. Citigroup lifted their target price on shares of Dover from $180.00 to $205.00 and gave the stock a buy rating in a research note on Monday, April 8th. StockNews.com raised shares of Dover from a hold rating to a buy rating in a research note on Friday, April 26th. Finally, Oppenheimer lifted their target price on shares of Dover from $187.00 to $197.00 and gave the stock an outperform rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Dover presently has a consensus rating of Moderate Buy and a consensus target price of $192.63.

Dover Trading Down 0.6 %

NYSE:DOV opened at $185.23 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $25.46 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 2.25 and a beta of 1.22. The firm has a fifty day simple moving average of $181.49 and a two-hundred day simple moving average of $172.68. Dover has a 12 month low of $127.25 and a 12 month high of $192.31.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 25.36%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $2.05 earnings per share. Analysts expect that Dover will post 9.13 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.10%. The ex-dividend date was Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

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.