Dover (DOV) Closes Sale of DESTACO Business to Stabilus

03.04.24 16:09 Uhr

Werte in diesem Artikel
Aktien

169,30 EUR -0,80 EUR -0,47%

57,10 EUR 0,70 EUR 1,24%

Indizes

27.240,9 PKT 183,2 PKT 0,68%

27.281,5 PKT 157,2 PKT 0,58%

13.462,1 PKT 76,8 PKT 0,57%

5.304,7 PKT 36,9 PKT 0,70%

Dover Corporation DOV announced that it completed the previously announced sale of its De-Sta-Co (“DESTACO”) business to the industrial and automotive supplier, Stabilus SE. This move will help DOV focus its efforts and capital deployment on growing its core platforms.In October 2023, Dover inked a deal with Stabilus to sell its DESTACO business for $680 million in enterprise value.DOV acquired DESTACO in 1962. It creates, manufactures and sells workholding and automation components for industrial automation. The business will gain from Stabilus' focus on industrial automation, and a robust go-to-market channel in industrial and automotive applications.In 2022, DESTACO generated revenues of $213 million and was part of Dover's Engineered Products segment. The Engineered Products segment’s revenues rose 0.8% year over year to $529 million in the fourth quarter of 2023. The segment’s adjusted EBITDA increased 13.1% year over year to $125 million.Dover reported fourth-quarter 2023 adjusted earnings per share (EPS) from continuing operations of $2.45, beating the Zacks Consensus Estimate of $2.44. The bottom line increased 13% year over year, aided by the company’s cost-containment actions.Total revenues in the fourth quarter decreased 1.5% year over year to $2.11 billion. The top line missed the Zacks Consensus Estimate of $2.17 billion. Organic growth was a negative 3% in the quarter.Price PerformanceDover’s shares have gained 17% in the past year compared with the industry’s growth of 24.1%. Image Source: Zacks Investment Research Zacks Rank and Stocks to ConsiderDOV currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the Industrial Products sector are Proto Labs, Inc. PRLB, Applied Industrial Technologies AIT and Cadre Holdings, Inc. CDRE. PRLB currently sports a Zacks Rank #1 (Strong Buy), and AIT and CDRE carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Proto Labs’ 2024 earnings is pegged at $1.62 per share. The consensus estimate for 2024 earnings has moved 11% north in the past 60 days and suggests year-over-year growth of 1.9%. The company has a trailing four-quarter average earnings surprise of 42.2%. PRLB shares have gained 15.7% in the past year.Applied Industrial has an average trailing four-quarter earnings surprise of 13.9%. The Zacks Consensus Estimate for AIT’s 2024 earnings is pinned at $9.43 per share, which indicates year-over-year growth of 7.8%. Estimates have been unchanged in the past 60 days. The company’s shares have gained 43.3% in the past year.The Zacks Consensus Estimate for Cadre Holdings’ 2024 earnings is pegged at $1.15 per share. The consensus estimate for 2024 earnings has moved 6% north in the past 60 days and suggests year-over-year growth of 16.7%. The company has a trailing four-quarter average earnings surprise of 33%. CDRE shares have gained 72% in the past year.Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dover Corporation (DOV): Free Stock Analysis Report Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report Proto Labs, Inc. (PRLB): Free Stock Analysis Report Cadre Holdings, Inc. (CDRE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

Ausgewählte Hebelprodukte auf Dover

Mit Knock-outs können spekulative Anleger überproportional an Kursbewegungen partizipieren. Wählen Sie einfach den gewünschten Hebel und wir zeigen Ihnen passende Open-End Produkte auf Dover

NameHebelKOEmittent
NameHebelKOEmittent
Werbung

Quelle: Zacks

Nachrichten zu Stabilus SE

Analysen zu Stabilus SE

DatumRatingAnalyst
17.05.2024Stabilus SE OutperformBernstein Research
10.05.2024Stabilus SE OverweightJP Morgan Chase & Co.
09.05.2024Stabilus SE BuyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
08.05.2024Stabilus SE BuyWarburg Research
08.05.2024Stabilus SE OverweightJP Morgan Chase & Co.
DatumRatingAnalyst
17.05.2024Stabilus SE OutperformBernstein Research
10.05.2024Stabilus SE OverweightJP Morgan Chase & Co.
09.05.2024Stabilus SE BuyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
08.05.2024Stabilus SE BuyWarburg Research
08.05.2024Stabilus SE OverweightJP Morgan Chase & Co.
DatumRatingAnalyst
19.01.2022Stabilus HoldHauck & Aufhäuser Privatbankiers KGaA
06.12.2021Stabilus NeutralJP Morgan Chase & Co.
12.11.2021Stabilus NeutralJP Morgan Chase & Co.
07.10.2021Stabilus NeutralJP Morgan Chase & Co.
20.09.2021Stabilus HoldHauck & Aufhäuser Privatbankiers KGaA
DatumRatingAnalyst
31.01.2022Stabilus UnderweightJP Morgan Chase & Co.
20.01.2022Stabilus ReduceKepler Cheuvreux
18.01.2022Stabilus UnderweightJP Morgan Chase & Co.
05.01.2022Stabilus UnderweightJP Morgan Chase & Co.
05.01.2022Stabilus UnderweightJP Morgan Chase & Co.

Um die Übersicht zu verbessern, haben Sie die Möglichkeit, die Analysen für Stabilus SE nach folgenden Kriterien zu filtern.

Alle: Alle Empfehlungen

Buy: Kaufempfehlungen wie z.B. "kaufen" oder "buy"
Hold: Halten-Empfehlungen wie z.B. "halten" oder "neutral"
Sell: Verkaufsempfehlungn wie z.B. "verkaufen" oder "reduce"