Fortive (NYSE:FTV) will post its quarterly earnings results after the market closes on Thursday, October 24th. Analysts expect Fortive to post earnings of $0.87 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.
Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, July 25th. The technology company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. On average, analysts expect Fortive to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of FTV opened at $72.26 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 1.23. The stock has a 50 day moving average price of $68.37 and a two-hundred day moving average price of $76.50. The firm has a market capitalization of $23.80 billion, a P/E ratio of 23.61, a P/E/G ratio of 2.73 and a beta of 1.21. Fortive has a 52 week low of $62.89 and a 52 week high of $89.48.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Thursday, August 29th. Fortive’s dividend payout ratio is currently 9.15%.
In other news, SVP Stacey A. Walker sold 34,446 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $70.70, for a total value of $2,435,332.20. Following the transaction, the senior vice president now owns 20,015 shares in the company, valued at approximately $1,415,060.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.70% of the stock is owned by insiders.
A number of analysts have commented on the company. Citigroup decreased their price objective on Fortive from $86.00 to $76.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Bank of America cut their target price on Fortive from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Barclays cut their target price on Fortive from $89.00 to $84.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Morgan Stanley cut their target price on Fortive from $85.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Finally, Zacks Investment Research upgraded Fortive from a “sell” rating to a “hold” rating and set a $72.00 target price on the stock in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $79.25.
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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