Stock Story -
Manufacturing company Dover (NYSE:DOV) will be reporting earnings tomorrow before market hours. Here's what to expect.
Dover beat analysts' revenue expectations by 2.9% last quarter, reporting revenues of $2.09 billion, flat year on year. It was a very strong quarter for the company, with a solid beat of analysts' organic revenue estimates and a decent beat of analysts' earnings estimates.
Is Dover a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Dover's revenue to grow 2.3% year on year to $2.15 billion, a reversal from the 2.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.21 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Dover has missed Wall Street's revenue estimates four times over the last two years.
Looking at Dover's peers in the industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. General Electric (NYSE:GE)'s revenues decreased 42.6% year on year, beating analysts' expectations by 6.4%, and Worthington reported a revenue decline of 13.6%, falling short of estimates by 9.6%. Worthington traded down 3.4% following the results.
Read the full analysis of General Electric's and Worthington's results on StockStory.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 8.3% on average over the last month. Dover's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $197.7 (compared to the current share price of $180.2).
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