Donaldson (NYSE:DCI – Get Rating) issued an update on its FY 2023 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.66-$2.68 for the period, compared to the consensus EPS estimate of $3.03. The company issued revenue guidance of $3.34 billion-$3.47 billion, compared to the consensus revenue estimate of $3.53 billion.
Donaldson Trading Down 2.4 %
Shares of DCI stock opened at $51.87 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.44 and a current ratio of 2.23. Donaldson has a fifty-two week low of $46.00 and a fifty-two week high of $63.15. The stock has a market capitalization of $6.37 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.67 and a beta of 1.25. The company has a 50 day moving average price of $52.71 and a 200 day moving average price of $51.44.
Donaldson (NYSE:DCI – Get Rating) last released its quarterly earnings results on Wednesday, August 31st. The industrial products company reported $0.84 EPS for the quarter, meeting the consensus estimate of $0.84. The firm had revenue of $890.00 million during the quarter, compared to the consensus estimate of $879.61 million. Donaldson had a net margin of 10.07% and a return on equity of 29.89%. Donaldson’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. Equities research analysts predict that Donaldson will post 3 EPS for the current fiscal year.
Donaldson Dividend Announcement
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 16th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.77%. The ex-dividend date was Monday, August 15th. Donaldson’s dividend payout ratio (DPR) is 34.59%.
Analyst Ratings Changes
A number of research firms have commented on DCI. Morgan Stanley decreased their price objective on shares of Donaldson from $68.00 to $63.00 and set an overweight rating for the company in a report on Monday, July 18th. Stifel Nicolaus dropped their price target on shares of Donaldson from $53.00 to $51.00 in a research report on Monday, July 18th. StockNews.com cut Donaldson from a strong-buy rating to a buy rating in a research note on Sunday, June 12th. Finally, Robert W. Baird lowered their target price on Donaldson from $61.00 to $59.00 and set an outperform rating on the stock in a research note on Thursday, September 1st.
Hedge Funds Weigh In On Donaldson
Several large investors have recently made changes to their positions in DCI. Citigroup Inc. lifted its holdings in Donaldson by 30.9% during the first quarter. Citigroup Inc. now owns 27,567 shares of the industrial products company’s stock worth $1,431,000 after acquiring an additional 6,503 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Donaldson by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 45,273 shares of the industrial products company’s stock worth $2,351,000 after buying an additional 4,296 shares during the last quarter. BlackRock Inc. increased its position in Donaldson by 3.9% during the first quarter. BlackRock Inc. now owns 10,996,071 shares of the industrial products company’s stock worth $571,026,000 after buying an additional 413,360 shares during the last quarter. APG Asset Management N.V. bought a new stake in shares of Donaldson during the first quarter worth approximately $1,391,000. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Donaldson by 8.6% during the first quarter. Great West Life Assurance Co. Can now owns 71,204 shares of the industrial products company’s stock worth $3,802,000 after acquiring an additional 5,642 shares during the period. Institutional investors and hedge funds own 80.20% of the company’s stock.
Donaldson Company Profile
Donaldson Company, Inc manufactures and sells filtration systems and replacement parts worldwide. The company operates through two segments, Engine Products and Industrial Products. Its Engine Products segment provides replacement filters for air and liquid filtration applications; air filtration systems; liquid filtration systems for fuel, lube, and hydraulic applications; exhaust and emissions systems and sensors; indicators; and monitoring systems.
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