Dover (NYSE:DOV) Announces Earnings Results

Dover (NYSE:DOV) issued its quarterly earnings data on Thursday. The industrial products company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.01, RTT News reports. Dover had a return on equity of 29.67% and a net margin of 8.50%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm earned $1.30 EPS. Dover’s quarterly revenue was up 4.6% on a year-over-year basis. Dover updated its FY 2019 guidance to $5.75-5.85 EPS and its FY19 guidance to $5.75-5.85 EPS.

NYSE:DOV opened at $98.12 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.87 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average price is $97.73. Dover has a 52 week low of $65.83 and a 52 week high of $103.47. The company has a market cap of $14.26 billion, a P/E ratio of 17.55, a PEG ratio of 1.47 and a beta of 1.49.

A number of equities research analysts have weighed in on DOV shares. Robert W. Baird started coverage on Rocket Pharmaceuticals in a research note on Monday, April 22nd. They set an “outperform” rating for the company. Deutsche Bank raised their price objective on Keysight Technologies from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Citigroup set a $113.00 price objective on Dover and gave the company a “buy” rating in a research note on Monday, April 22nd. ValuEngine upgraded VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $97.94.

A number of large investors have recently added to or reduced their stakes in DOV. Boston Partners lifted its holdings in Dover by 29.2% during the 1st quarter. Boston Partners now owns 7,642,284 shares of the industrial products company’s stock worth $716,846,000 after buying an additional 1,728,856 shares during the last quarter. Norges Bank bought a new position in Dover during the 4th quarter worth approximately $89,421,000. Deutsche Bank AG lifted its holdings in shares of Dover by 126.5% in the 4th quarter. Deutsche Bank AG now owns 999,883 shares of the industrial products company’s stock worth $70,937,000 after purchasing an additional 558,477 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Dover by 1,827.0% in the 4th quarter. Squarepoint Ops LLC now owns 267,712 shares of the industrial products company’s stock worth $18,994,000 after purchasing an additional 253,819 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Dover by 157.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 313,429 shares of the industrial products company’s stock worth $29,399,000 after purchasing an additional 191,688 shares during the last quarter. 84.90% of the stock is currently owned by institutional investors.

About Dover

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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Earnings History for Dover (NYSE:DOV)

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