For its second fiscal quarter (ending June 30), Dover Corp (NYSE: DOV) has reported a 18% increase in E.P.S. from $1.73 a year ago to $2.05 in the current quarter. However, this result fell short of the consensus estimate of $2.20 by $-0.15. E.P.S. were $10.80 for the latest four quarters through June 30 versus $7.26 for the same period a year ago — an increase of 49%.
Recent Price Action
Dover Corp (NYSE: DOV) stock closed at $186.32 on 7/25/24 after a very large increase of 5.7%. Moreover, exceptionally high trading volume at 233% of normal accompanied the advance. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -1.8% during the last week.
Current PriceTarget Research Rating
DOV is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Dover has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Dover has a slightly negative Appreciation Score of 34 but a very high Power Rating of 89, leading to the Positive Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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