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Dover Corporation (DOV), headquartered in Downers Grove, Illinois, produces a wide range of specialized industrial products and manufacturing equipment. Valued at $25.9 billion by market cap, the company provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The leading industrial products manufacturer and solutions provider is expected to announce its fiscal fourth-quarter earnings for 2024 before the market opens on Thursday, Jan. 30.
Ahead of the event, analysts expect DOV to report a profit of $2.08 per share on a diluted basis, down 15.1% from $2.45 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For the full year, analysts expect DOV to report EPS of $8.17, down 7.2% from $8.80 in fiscal 2023. However, its EPS is expected to rise 14.9% year over year to $9.39 in fiscal 2025.
DOV stock has outperformed the S&P 500’s ($SPX) 22.1% gains over the past 52 weeks, with shares up 28.3% during this period. Similarly, it outperformed the Industrial Select Sector SPDR Fund’s (XLI) 19.9% gains over the same time frame.
DOV has excelled due to the high demand for its industrial automation and energy-efficient offerings. The company's strategic acquisitions have increased its revenue, while cost-saving initiatives have boosted margins, positioning the company as a top performer in a competitive market.
On Oct. 24, DOV shares closed down more than 3% after reporting its Q3 results. Its revenue was $1.98 billion, missing analyst estimates of $2 billion. The company’s adjusted EPS of $2.27 surpassed analyst estimates of $2.18.
Analysts’ consensus opinion on DOV stock is moderately bullish, with a “Moderate Buy” rating overall. Out of 14 analysts covering the stock, nine advise a “Strong Buy” rating, and five give a “Hold.” DOV’s average analyst price target is $216.43, indicating a potential upside of 14.6% from the current levels.
