Donaldson rises on Q3 sales beat

Donaldson

04/06/2024 12:27

** Shares of filtration products maker Donaldson  DCI.N 
rise 5.6% to $75.95 premarket
    ** Co reports Q3 sales of 927.9 mln, above analysts'
estimates of $915.8 mln - LSEG 
    ** Co raises FY EPS forecast to a range of $3.33 - $3.39,
from $3.24 - $3.32 previously, analysts' on average expect it to
be $3.27
    ** "(FY) Operating margin is expected to be between 15.0%
and 15.4% versus 14.0%, or 14.6% on an adjusted basis, in 2023,"
- DCI
    ** One of 6 brokerages rate the stock "strong buy", 4 "hold"
and 1 "sell"; their median PT is $76.50
    ** YTD, DCI up 10.1%

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.parmar@thomsonreuters.com))