Dover (DOV) Posts Earnings Results, Beats Expectations By $0.07 EPS
Dover (NYSE:DOV) announced its earnings results on Thursday. The industrial products company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.07, MarketWatch Earnings reports. Dover had a net margin of 9.69% and a return on equity of 19.66%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. Dover updated its FY 2018 guidance to $4.80-4.85 EPS and its FY18 guidance to $4.80-4.85 EPS.
NYSE DOV opened at $82.41 on Friday. The stock has a market cap of $12.33 billion, a P/E ratio of 20.45, a PEG ratio of 1.43 and a beta of 1.34. Dover has a 52-week low of $70.12 and a 52-week high of $90.26. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.35 and a quick ratio of 0.93.
DOV has been the subject of a number of research reports. Citigroup raised shares of Dover from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a report on Friday, September 7th. Barclays upped their target price on shares of Dover to $96.00 and gave the company an “overweight” rating in a report on Wednesday, September 12th. Royal Bank of Canada upped their target price on shares of Dover to $86.00 and gave the company a “sector perform” rating in a report on Wednesday, September 12th. BMO Capital Markets cut shares of Dover from an “outperform” rating to a “market perform” rating and set a $90.00 target price for the company. in a report on Friday, September 7th. Finally, ValuEngine raised shares of Dover from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $90.92.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in 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 clamps, 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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