Analysts Expect Fortive Corp (NYSE:FTV) Will Announce Quarterly Sales of $1.92 Billion

Equities research analysts expect Fortive Corp (NYSE:FTV) to announce $1.92 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Fortive’s earnings, with the highest sales estimate coming in at $1.96 billion and the lowest estimate coming in at $1.84 billion. Fortive posted sales of $1.84 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.3%. The company is scheduled to report its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Fortive will report full year sales of $7.43 billion for the current financial year, with estimates ranging from $7.30 billion to $7.58 billion. For the next fiscal year, analysts expect that the company will report sales of $7.92 billion, with estimates ranging from $7.78 billion to $8.07 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Fortive.

Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year.

FTV has been the topic of a number of research analyst reports. BMO Capital Markets lifted their price target on shares of Fortive from $96.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Morgan Stanley cut shares of Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 price target on the stock. in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Raymond James set a $84.00 price target on shares of Fortive and gave the company an “outperform” rating in a research note on Friday, July 26th. Zacks Investment Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Gordon Haskett cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $85.87.

In other Fortive news, SVP Stacey A. Walker sold 34,446 shares of Fortive stock in a transaction on Monday, August 5th. The shares were sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the sale, the senior vice president now owns 20,015 shares of the company’s stock, valued at approximately $1,415,060.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Emily A. Weaver sold 519 shares of Fortive stock in a transaction on Friday, May 17th. The stock was sold at an average price of $80.98, for a total transaction of $42,028.62. Following the sale, the vice president now directly owns 8,627 shares in the company, valued at approximately $698,614.46. The disclosure for this sale can be found here. Insiders own 12.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Zeke Capital Advisors LLC raised its holdings in shares of Fortive by 2.9% during the 1st quarter. Zeke Capital Advisors LLC now owns 4,378 shares of the technology company’s stock worth $367,000 after acquiring an additional 125 shares during the period. Emerald Advisers LLC raised its holdings in shares of Fortive by 0.7% during the 1st quarter. Emerald Advisers LLC now owns 21,120 shares of the technology company’s stock worth $1,772,000 after acquiring an additional 144 shares during the period. Mcmillion Capital Management Inc. raised its holdings in shares of Fortive by 3.1% during the 1st quarter. Mcmillion Capital Management Inc. now owns 4,865 shares of the technology company’s stock worth $408,000 after acquiring an additional 148 shares during the period. LPL Financial LLC raised its holdings in shares of Fortive by 2.0% during the 2nd quarter. LPL Financial LLC now owns 7,831 shares of the technology company’s stock worth $638,000 after acquiring an additional 153 shares during the period. Finally, Folger Nolan Fleming Douglas Capital Management Inc. raised its holdings in shares of Fortive by 4.5% during the 2nd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,710 shares of the technology company’s stock worth $302,000 after acquiring an additional 160 shares during the period. 83.64% of the stock is currently owned by institutional investors.

Fortive stock traded up $0.03 during trading on Friday, reaching $67.36. The company had a trading volume of 58,693 shares, compared to its average volume of 1,996,436. The company has a 50-day moving average of $77.67. Fortive has a 1-year low of $62.89 and a 1-year high of $89.48. The company has a market capitalization of $23.17 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 2.03 and a beta of 1.19. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98.

About Fortive

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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Earnings History and Estimates for Fortive (NYSE:FTV)

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