Dover Corporation (NYSE:DOV) is an industrial conglomerate producing wide range of specialized industrial products and manufacturing equipment. The company reported adjusted earnings of $1.43 per share in fourth-quarter, beating the Zacks Consensus Estimate of $1.29. Earnings also improved 25% year over year.
Revenue: Dover posted revenues of $1,809 million, which beat the Zacks Consensus Estimate of $1,775 million.
Outlook: In 2019, Dover expects to generate adjusted EPS in the range of $5.65-$5.85. The company also expects full year revenue growth of 2-3%, organic growth of 2-4% and a 1% impact from Belanger acquisitions, which will be partly offset by a 2% unfavorable impact from foreign currency exchange.
Estimate Trend & Surprise History
Investors should note that the earnings estimate revisions for Dover for the fourth quarter have been stable ahead of the earnings release. The Zacks Consensus Estimate currently stands at $1.29 for the quarter.
As regards earnings surprise, Dover has outpaced the Zacks Consensus Estimate in each of the past four quarters, with an average beat of 6.04%.
Dover Corporation Price and EPS Surprise
Zacks Rank: Currently, Dover has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Market Reaction: Dover’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on this Dover earnings report later!
Wall Street’s Next Amazon (NASDAQ:AMZN)
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Dover Corporation (DOV): Free Stock Analysis Report
Original post
Zacks Investment Research