Fortive Co. (NYSE:FTV) Expected to Announce Earnings of $0.72 Per Share

Wall Street analysts expect that Fortive Co. (NYSE:FTVGet Rating) will announce earnings per share (EPS) of $0.72 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Fortive’s earnings, with the lowest EPS estimate coming in at $0.71 and the highest estimate coming in at $0.73. Fortive posted earnings per share of $0.66 during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.1%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Fortive will report full-year earnings of $3.10 per share for the current year, with EPS estimates ranging from $3.07 to $3.16. For the next financial year, analysts forecast that the company will post earnings of $3.42 per share, with EPS estimates ranging from $3.35 to $3.50. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Fortive.

Fortive (NYSE:FTVGet Rating) last released its quarterly earnings data on Thursday, April 28th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.35 billion. Fortive had a return on equity of 10.87% and a net margin of 12.32%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS.

Several research firms have commented on FTV. Argus raised Fortive from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Thursday, March 17th. TheStreet downgraded Fortive from a “b” rating to a “c+” rating in a research note on Wednesday, February 16th. Credit Suisse Group dropped their price objective on Fortive from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Friday, February 4th. Citigroup dropped their price target on Fortive from $99.00 to $91.00 in a research note on Friday, February 4th. Finally, Barclays upgraded Fortive from an “equal weight” rating to an “overweight” rating and set a $75.00 price objective for the company in a report on Monday, March 14th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Fortive presently has a consensus rating of “Buy” and an average target price of $80.71.

In other Fortive news, SVP Stacey A. Walker sold 1,297 shares of the company’s stock in a transaction dated Wednesday, February 23rd. The shares were sold at an average price of $63.87, for a total value of $82,839.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Christopher M. Mulhall sold 594 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $63.03, for a total transaction of $37,439.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,379 shares of company stock valued at $215,546. Insiders own 4.40% of the company’s stock.

Several large investors have recently bought and sold shares of FTV. Alliancebernstein L.P. lifted its position in Fortive by 1.8% during the third quarter. Alliancebernstein L.P. now owns 507,292 shares of the technology company’s stock valued at $35,800,000 after purchasing an additional 9,193 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Fortive by 89.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 2,482 shares of the technology company’s stock valued at $175,000 after purchasing an additional 1,173 shares during the period. IndexIQ Advisors LLC lifted its position in Fortive by 6.4% during the third quarter. IndexIQ Advisors LLC now owns 5,714 shares of the technology company’s stock valued at $403,000 after purchasing an additional 344 shares during the period. Mutual of America Capital Management LLC lifted its position in Fortive by 6.4% during the third quarter. Mutual of America Capital Management LLC now owns 47,161 shares of the technology company’s stock valued at $3,328,000 after purchasing an additional 2,835 shares during the period. Finally, AGF Investments LLC bought a new position in Fortive during the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Shares of Fortive stock opened at $57.79 on Thursday. The stock’s fifty day moving average is $59.49 and its 200-day moving average is $67.35. The firm has a market capitalization of $20.71 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. The company has a quick ratio of 0.74, a current ratio of 0.96 and a debt-to-equity ratio of 0.29. Fortive has a 12-month low of $56.06 and a 12-month high of $79.87.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, May 27th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.48%. The ex-dividend date is Thursday, May 26th. Fortive’s dividend payout ratio is presently 15.56%.

Fortive declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 17th that permits the company to buyback 20,000,000 shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Fortive Company Profile (Get Rating)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

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