Dover Corporation posted fourth-quarter 2022 adjusted earnings per share (EPS) from continuing operations of $2.16, exceeding the Zacks Consensus Estimate of $2.15 (according to Zacks Equity Research).
EPS was +21% higher year-over-year, on the back of strong demand and solid backlog rates, coupled with improving price-cost dynamics – which offset the effects of input shortages, inflationary cost pressure and foreign currency headwinds.
Revenues in the quarter were up +7.5% year over year to $2,139 million, beating the Zacks Consensus Estimate of $2,108 million.
Organic growth came in at +9% for the quarter.
The company’s revenue from Engineered Products segment grew +13.4% year-over-year in the quarter, and those from Clean Energy & Fueling segment were up +12.4%. Imaging & Identification segment’s revenues rose +0.3% year over year. Climate & Sustainability Technologies segment’s revenues climbed +17.6%. Pumps & Process Solutions segment’s revenues slipped -6.5%.
Dover projects adjusted EPS in the range of $8.85 to $9.05 for 2023, and expects revenue growth of 3-5%.
DOV saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on March 22, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 39 instances where the indicator turned negative. In of the 39 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
The 10-day RSI Indicator for DOV moved out of overbought territory on March 22, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 50 similar instances where the indicator moved out of overbought territory. In of the 50 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on April 10, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on DOV as a result. In of 79 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where DOV declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for DOV entered a downward trend on April 23, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 53 cases where DOV's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
DOV moved above its 50-day moving average on April 22, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where DOV advanced for three days, in of 357 cases, the price rose further within the following month. The odds of a continued upward trend are .
DOV may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 74, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (4.721) is normal, around the industry mean (5.264). P/E Ratio (23.342) is within average values for comparable stocks, (49.901). Projected Growth (PEG Ratio) (1.293) is also within normal values, averaging (2.219). Dividend Yield (0.012) settles around the average of (0.022) among similar stocks. P/S Ratio (2.925) is also within normal values, averaging (9.714).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. DOV’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of specialized industrial equipment and products
Industry IndustrialMachinery