Dover Corporation Set to Announce Q4 Earnings Amid Mixed Analyst Predictions
Dover Corporation (DOV)**, based in Downers Grove, Illinois, manufactures a variety of specialized industrial products and equipment. With a market cap of $25.9 billion, the company provides a broad array of offerings—including equipment, consumable supplies, aftermarket parts, and software solutions—across the globe. Investors are gearing up for the company’s fiscal fourth-quarter earnings announcement for 2024, scheduled for Thursday, January 30, before the market opens.
Analysts Predict Decrease in Quarterly Earnings
In anticipation of the earnings release, analysts project DOV will report a diluted profit of **$2.08 per share**, marking a decrease of 15.1% from **$2.45** per share during the same quarter last year. Notably, DOV has consistently exceeded Wall Street EPS estimates over its last four quarterly reports.
Full Year Projections Show a Mixed Outlook
For the entire fiscal year, analysts forecast DOV to achieve an EPS of **$8.17**, reflecting a decline of 7.2% from **$8.80** in fiscal 2023. However, there is optimism for a turnaround, with expectations for EPS to rise by **14.9%** to **$9.39** in fiscal 2025.
Stock Performance Shows Positive Momentum
Over the past 52 weeks, DOV has surpassed the S&P 500’s **22.1%** gains, climbing **28.3%** during the same period. This strong performance also outstrips the **19.9%** gain of the Industrial Select Sector SPDR Fund (**XLI**).
Demand and Strategic Moves Fuel Success
DOV’s success is attributed to high demand for its industrial automation and energy-efficient products. Strategic acquisitions have further boosted revenue, while cost-saving efforts have improved profit margins, solidifying DOV’s role as a standout in a competitive market.
Recent Earnings Report and Analyst Ratings
On October 24, shares of DOV fell by more than **3%** following the announcement of its Q3 results. Although the company reported revenue of **$1.98 billion**, it fell short of analyst expectations of **$2 billion**. However, DOV’s adjusted EPS of **$2.27** did surpass predictions of **$2.18**. Analysts generally view DOV stock positively, assigning a “Moderate Buy” rating overall. Among the 14 analysts covering the stock, nine recommend a “Strong Buy,” while five suggest holding. The average analyst price target stands at **$216.43**, suggesting a potential upside of **14.6%** from recent prices.
On the date of publication,
Neha Panjwani
did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy
here.
More news from Barchart
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
