Dover Corporation’s DOV wholly-owned subsidiary announced the launch of its white MW2440 ink, which is designed for difficult-to-code polyethylene (“PE”) cables. This move demonstrates the company's commitment to innovation and continuous efforts to employ safe, sustainable materials.
Dover’s Innovative Solution for Polyethylene Cables
Dover's Markem-Imaje launched MW2440 white ink to respond to consumers' increasing demands for safety. This is designed for printing durable, high-visibility codes on PE cables, including low-smoke materials.
This innovative ink ensures high-quality markings with exceptional adhesion, durability and resistance to bending, fluids, UV light and temperature variations. The new product’s halogen-free formula reduces toxic fumes in fires, meeting environmental and safety standards.
The white ink will now be available for Markem-Imaje's 9750+ coder models.
Details on DOV’s Markem-Imaje
Markem-Imaje is a leading global manufacturer of product identification and traceability solutions. With 30 subsidiaries, 6 technology centers and multiple manufacturing plants, Markem-Imaje delivers innovative coding systems to more than 50,000 customers worldwide.
It provides an extensive line of innovative inkjet, thermal transfer, laser and print-and-apply label systems.
Dover Expects Y/Y EPS Growth in 2024
Backed by strong second-quarter results, the company raised its 2024 outlook. It has raised the adjusted EPS view to $9.05-$9.20 for 2024 from $9.00-$9.15. The mid-point of the updated guidance indicates 4% growth from the $8.80 reported in 2023. The company anticipates year-over-year revenue growth of 3-4%, modified from the previously announced 2-4%.
Dover reported second-quarter 2024 adjusted earnings per share (EPS) from continuing operations of $2.36, beating the Zacks Consensus Estimate of $2.21. The bottom line increased 15% year over year.
Total revenues in the second quarter increased 3.7% year over year to $2.18 billion. The top line surpassed the Zacks Consensus Estimate of $2.15 billion. Organic growth was 4.8% in the quarter.
DOV Shares Outperform Industry
DOV shares have gained 39.8% in the past year compared with the industry’s growth of 35.9%.
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Dover’s Zacks Rank & Other Stocks to Consider
The company currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Industrial Products sector are Crane Company CR, Flowserve Corporation FLS and RBC Bearings Incorporated RBC. These three companies have a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Crane’s 2024 earnings is pegged at $5.07 per share. The consensus estimate for 2024 earnings has moved north by 6% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 11.2%. CR shares have gained 75.2% in a year.
Flowserve has an average trailing four-quarter earnings surprise of 18.2%. The Zacks Consensus Estimate for FLS’ 2024 earnings is pinned at $2.76 per share, which indicates year-over-year growth of 31.6%. The consensus estimate for 2024 earnings has moved north by 4% in the past 60 days. The company’s shares have gained 27.5% in a year.
The Zacks Consensus Estimate for RBC Bearings’ fiscal 2025 earnings is pegged at $9.71 per share. The consensus estimate for 2025 earnings has moved north by 1.4% in the past 60 days. The company has a trailing four-quarter average earnings surprise of 4.7%. RBC shares have gained 27.2% in a year.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
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Today, See These 5 Potential Home Runs >>Dover Corporation (DOV) : Free Stock Analysis Report
RBC Bearings Incorporated (RBC) : Free Stock Analysis Report
Flowserve Corporation (FLS) : Free Stock Analysis Report
Crane Company (CR) : Free Stock Analysis Report
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