Analysts forecast that Fortive Corp (NYSE:FTV) will report earnings per share of $0.87 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Fortive’s earnings, with the lowest EPS estimate coming in at $0.86 and the highest estimate coming in at $0.88. Fortive posted earnings of $0.86 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 1.2%. The firm is scheduled to report its next earnings report after the market closes on Thursday, October 24th.
According to Zacks, analysts expect that Fortive will report full year earnings of $3.47 per share for the current fiscal year, with EPS estimates ranging from $3.45 to $3.52. For the next financial year, analysts expect that the business will report earnings of $3.78 per share, with EPS estimates ranging from $3.65 to $3.92. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Fortive.
Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the business posted $0.91 EPS. The company’s revenue for the quarter was up 16.4% on a year-over-year basis.
A number of research analysts have recently weighed in on FTV shares. Berenberg Bank set a $86.00 target price on shares of Fortive and gave the company a “buy” rating in a research report on Wednesday, September 18th. Raymond James set a $84.00 target price on shares of Fortive and gave the company an “outperform” rating in a research report on Friday, July 26th. Barclays reduced their target price on shares of Fortive from $89.00 to $84.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Credit Suisse Group reissued a “hold” rating and set a $76.00 target price on shares of Fortive in a research report on Tuesday, September 10th. Finally, Citigroup reduced their target price on shares of Fortive from $86.00 to $76.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $79.25.
Shares of Fortive stock traded up $0.93 on Wednesday, reaching $71.87. 907,455 shares of the company traded hands, compared to its average volume of 2,422,858. Fortive has a 52 week low of $62.89 and a 52 week high of $89.48. The company has a 50 day moving average of $68.31 and a 200 day moving average of $76.77. The firm has a market capitalization of $23.79 billion, a PE ratio of 23.49, a PEG ratio of 2.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98.
The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.39%. The ex-dividend date was Thursday, August 29th. Fortive’s dividend payout ratio is presently 9.15%.
In other Fortive news, SVP Stacey A. Walker sold 34,446 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $70.70, for a total value of $2,435,332.20. Following the sale, the senior vice president now directly owns 20,015 shares in the company, valued at approximately $1,415,060.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Rational Advisors LLC purchased a new stake in shares of Fortive during the 2nd quarter valued at $33,000. Kavar Capital Partners LLC purchased a new position in Fortive in the 2nd quarter worth $37,000. Compagnie Lombard Odier SCmA purchased a new position in Fortive in the 2nd quarter worth $41,000. Kings Point Capital Management purchased a new position in Fortive in the 2nd quarter worth $41,000. Finally, CSat Investment Advisory L.P. raised its position in Fortive by 342.8% in the 2nd quarter. CSat Investment Advisory L.P. now owns 673 shares of the technology company’s stock worth $55,000 after purchasing an additional 521 shares during the period. Hedge funds and other institutional investors own 82.65% of the company’s stock.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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