Fortive Corp (FTV) Expected to Post Earnings of $0.89 Per Share

Wall Street analysts predict that Fortive Corp (NYSE:FTV) will report earnings per share of $0.89 for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Fortive’s earnings, with the lowest EPS estimate coming in at $0.87 and the highest estimate coming in at $0.90. Fortive posted earnings per share of $0.71 in the same quarter last year, which would suggest a positive year-over-year growth rate of 25.4%. The firm is scheduled to report its next earnings report on Thursday, July 26th.

According to Zacks, analysts expect that Fortive will report full year earnings of $3.49 per share for the current financial year, with EPS estimates ranging from $3.48 to $3.51. For the next financial year, analysts expect that the company will post earnings of $3.71 per share, with EPS estimates ranging from $3.28 to $3.83. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Fortive.

Fortive (NYSE:FTV) last released its earnings results on Thursday, April 26th. The technology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. Fortive had a net margin of 16.12% and a return on equity of 29.86%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share.

Several research firms have recently weighed in on FTV. TheStreet raised shares of Fortive from a “c” rating to a “b-” rating in a research report on Monday. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Tuesday. ValuEngine downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 target price on the stock. in a research report on Friday, March 9th. Finally, Barclays initiated coverage on shares of Fortive in a report on Thursday, February 15th. They set an “overweight” rating and a $86.00 price target for the company. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $80.89.

Shares of Fortive stock traded up $2.04 during trading on Thursday, hitting $80.13. The stock had a trading volume of 2,548,436 shares, compared to its average volume of 1,619,781. The company has a market cap of $27.32 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 2.13 and a beta of 0.52. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.11 and a quick ratio of 1.69. Fortive has a 1 year low of $62.05 and a 1 year high of $80.45.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, May 25th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Thursday, May 24th. Fortive’s dividend payout ratio is currently 9.69%.

In other Fortive news, VP Emily A. Weaver sold 18,354 shares of Fortive stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $73.80, for a total value of $1,354,525.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James A. Lico sold 75,000 shares of Fortive stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $71.93, for a total transaction of $5,394,750.00. Following the completion of the sale, the insider now owns 307,442 shares of the company’s stock, valued at $22,114,303.06. The disclosure for this sale can be found here. Company insiders own 12.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of FTV. Victory Capital Management Inc. lifted its stake in Fortive by 10.9% in the fourth quarter. Victory Capital Management Inc. now owns 51,789 shares of the technology company’s stock valued at $3,747,000 after acquiring an additional 5,083 shares during the last quarter. Calton & Associates Inc. acquired a new stake in Fortive in the fourth quarter valued at approximately $107,000. M&T Bank Corp lifted its stake in Fortive by 2.5% in the fourth quarter. M&T Bank Corp now owns 56,280 shares of the technology company’s stock valued at $4,072,000 after acquiring an additional 1,391 shares during the last quarter. California Public Employees Retirement System lifted its stake in Fortive by 4.0% in the fourth quarter. California Public Employees Retirement System now owns 658,394 shares of the technology company’s stock valued at $47,635,000 after acquiring an additional 25,325 shares during the last quarter. Finally, Sigma Planning Corp acquired a new stake in Fortive in the fourth quarter valued at approximately $219,000. Hedge funds and other institutional investors own 79.60% 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 maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Earnings History and Estimates for Fortive (NYSE:FTV)

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