Brokerages Expect Fortive Corp (NYSE:FTV) to Announce $0.98 Earnings Per Share

Share on StockTwits

Wall Street analysts forecast that Fortive Corp (NYSE:FTV) will announce earnings of $0.98 per share for the current quarter, according to Zacks. Three analysts have made estimates for Fortive’s earnings, with the highest EPS estimate coming in at $0.99 and the lowest estimate coming in at $0.97. Fortive posted earnings of $0.91 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 7.7%. The firm is expected to announce its next earnings report on Thursday, February 6th.

On average, analysts expect that Fortive will report full-year earnings of $3.45 per share for the current fiscal year, with EPS estimates ranging from $3.43 to $3.46. For the next financial year, analysts expect that the company will report earnings of $3.79 per share, with EPS estimates ranging from $3.71 to $3.85. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Fortive.

Fortive (NYSE:FTV) last released its earnings results on Thursday, October 24th. The technology company reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. Fortive had a return on equity of 17.41% and a net margin of 37.57%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company earned $0.86 earnings per share. Fortive’s revenue was up 16.2% compared to the same quarter last year.

Several research firms have recently weighed in on FTV. Barclays reduced their price objective on Fortive from $89.00 to $84.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Citigroup reduced their target price 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 decreased their price target on Fortive from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Zacks Investment Research upgraded Fortive from a “sell” rating to a “hold” rating and set a $72.00 target price for the company in a report on Tuesday, October 1st. Finally, Credit Suisse Group upped their target price on Fortive from $73.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $77.92.

In other news, SVP Martin Gafinowitz sold 18,543 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.41, for a total value of $1,342,698.63. Following the completion of the sale, the senior vice president now directly owns 101,169 shares of the company’s stock, valued at approximately $7,325,647.29. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM Advisors LLC lifted its stake in Fortive by 21.4% during the second quarter. CWM Advisors LLC now owns 5,878 shares of the technology company’s stock worth $479,000 after purchasing an additional 1,038 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Fortive by 1.6% in the second quarter. Commonwealth Equity Services LLC now owns 25,172 shares of the technology company’s stock worth $2,052,000 after buying an additional 391 shares during the period. FDx Advisors Inc. boosted its position in Fortive by 14.4% during the 2nd quarter. FDx Advisors Inc. now owns 11,008 shares of the technology company’s stock valued at $897,000 after acquiring an additional 1,385 shares in the last quarter. Clean Yield Group bought a new stake in shares of Fortive during the second quarter valued at approximately $79,000. Finally, Commerzbank Aktiengesellschaft FI grew its position in shares of Fortive by 1.4% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 36,418 shares of the technology company’s stock worth $2,969,000 after buying an additional 512 shares during the period. 82.85% of the stock is currently owned by institutional investors and hedge funds.

Fortive stock opened at $71.11 on Friday. The firm has a market cap of $24.23 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.63 and a beta of 1.21. Fortive has a 1 year low of $62.89 and a 1 year high of $89.48. The firm’s 50 day moving average price is $71.18 and its two-hundred day moving average price is $73.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.96 and a current ratio of 1.19.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be 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 is Wednesday, November 27th. Fortive’s dividend payout ratio (DPR) is currently 9.15%.

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.

See Also: Price to Earnings Ratio (PE)

Get a free copy of the Zacks research report on Fortive (FTV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Fortive (NYSE:FTV)

Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.