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S&P 500 (NYSE:SPY) component Dover (NYSE:DOV) will unveil its latest earnings on Wednesday, July 18, 2012. Dover operates a portfolio of manufacturing companies providing innovative components and equipment, specialty systems, and support services for a variety of applications to global customers.
Dover Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of $1.14 per share, a decline of 4.2% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.29. Between one and three months ago, the average estimate moved down. It also has dropped from $1.22 during the last month. Analysts are projecting profit to rise by 11.5% compared to last year’s $4.75.
Past Earnings Performance: Last quarter, the company beat estimates by 4 cents, coming in at net income of $1.05 a share versus the estimate of profit of $1.01 a share. It marked the fourth straight quarter of beating estimates.
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Stock Price Performance: Between April 17, 2012 and July 12, 2012, the stock price fell $11.18 (-17.9%), from $62.43 to $51.25. The stock price saw one of its best stretches over the last year between April 19, 2012 and April 27, 2012, when shares rose for seven straight days, increasing 6% (+$3.62) over that span. It saw one of its worst periods between June 19, 2012 and June 28, 2012 when shares fell for eight straight days, dropping 8.1% (-$4.56) over that span.
Analyst Ratings: There are six out of 11 analysts surveyed (54.5%) rating Dover a buy.
Wall St. Revenue Expectations: Analysts predict a rise of 1.4% in revenue from the year-earlier quarter to $2.19 billion.
On the top line, the company is hoping to build on a revenue increase last quarter. Revenue fell 2.5% in the fourth quarter of the last fiscal year after increasing in the first quarter.
A Look Back: In the first quarter, profit rose 0.6% to $196.1 million ($1.05 a share) from $194.9 million ($1.03 a share) the year earlier, exceeding analyst expectations. Revenue rose 5.3% to $2.06 billion from $1.96 billion.
Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 2.69 last quarter. Having a ratio above 2:1 is usually considered a good indicator of a company’s liquidity and ability to meet creditor demands. The company regressed in this liquidity measure from 2.82 in the fourth quarter of the last fiscal year to the last quarter driven in part by a decrease in current assets. Current assets decreased 4.7% to $3.24 billion while liabilities rose by 0.2% to $1.21 billion.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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