Fortive (NYSE:FTV) Announces Earnings Results

Fortive (NYSE:FTV) posted its quarterly earnings data on Wednesday. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01, Briefing.com reports. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis.

Fortive Trading Down 0.6 %

Shares of Fortive stock traded down $0.41 during trading hours on Thursday, hitting $69.99. The company’s stock had a trading volume of 3,694,127 shares, compared to its average volume of 1,677,640. Fortive has a 12 month low of $63.05 and a 12 month high of $87.10. The stock has a 50 day moving average of $74.16 and a 200 day moving average of $78.36. The company has a market capitalization of $24.64 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 2.24 and a beta of 1.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17.

Analyst Upgrades and Downgrades

FTV has been the topic of several research reports. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Barclays cut their price target on Fortive from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and cut their price target for the company from $95.00 to $90.00 in a research note on Wednesday, April 17th. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and upped their price target for the company from $75.00 to $90.00 in a research note on Monday, July 8th. Finally, Royal Bank of Canada dropped their price objective on Fortive from $83.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fortive has a consensus rating of “Moderate Buy” and an average price target of $84.92.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.