Analysts Expect Fortive Corp (NYSE:FTV) to Post $0.57 EPS

Equities analysts expect Fortive Corp (NYSE:FTV) to report earnings per share of $0.57 for the current quarter, Zacks reports. Three analysts have provided estimates for Fortive’s earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.53. Fortive posted earnings per share of $0.90 during the same quarter last year, which would suggest a negative year over year growth rate of 36.7%. The company is scheduled to issue its next quarterly earnings report on Thursday, July 23rd.

On average, analysts expect that Fortive will report full-year earnings of $2.84 per share for the current financial year, with EPS estimates ranging from $2.76 to $2.94. For the next year, analysts forecast that the firm will post earnings of $3.45 per share, with EPS estimates ranging from $3.15 to $3.82. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Fortive.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.76 billion. Fortive had a return on equity of 17.55% and a net margin of 8.28%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $0.69 EPS.

Several equities analysts have weighed in on the company. Robert W. Baird raised Fortive from a “neutral” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Thursday, June 25th. Credit Suisse Group dropped their target price on Fortive from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Vertical Research raised Fortive from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, June 5th. Morgan Stanley boosted their price objective on Fortive from $72.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, June 19th. They noted that the move was a valuation call. Finally, Citigroup started coverage on Fortive in a research report on Monday, April 27th. They set a “buy” rating and a $70.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Fortive currently has an average rating of “Buy” and a consensus target price of $76.57.

In related news, SVP Martin Gafinowitz sold 34,947 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $61.03, for a total transaction of $2,132,815.41. Following the completion of the sale, the senior vice president now owns 78,526 shares in the company, valued at $4,792,441.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan G. Spoon bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $54.46 per share, with a total value of $1,089,200.00. In the last 90 days, insiders have sold 80,081 shares of company stock valued at $5,004,454. 12.60% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. TFG Advisers LLC purchased a new stake in Fortive during the fourth quarter worth approximately $28,000. Acadian Asset Management LLC purchased a new stake in Fortive in the fourth quarter valued at approximately $37,000. Meeder Asset Management Inc. lifted its stake in Fortive by 41.3% in the fourth quarter. Meeder Asset Management Inc. now owns 486 shares of the technology company’s stock valued at $37,000 after buying an additional 142 shares during the last quarter. grace capital purchased a new stake in Fortive in the fourth quarter valued at approximately $38,000. Finally, Ropes Wealth Advisors LLC lifted its stake in Fortive by 78.6% in the first quarter. Ropes Wealth Advisors LLC now owns 525 shares of the technology company’s stock valued at $29,000 after buying an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

NYSE FTV traded down $0.26 during trading on Wednesday, hitting $67.66. The stock had a trading volume of 2,992,200 shares, compared to its average volume of 2,463,362. The company has a market capitalization of $22.94 billion, a PE ratio of 42.02 and a beta of 1.23. The company has a quick ratio of 1.32, a current ratio of 1.62 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average price of $63.71 and a 200 day moving average price of $66.94. Fortive has a twelve month low of $37.31 and a twelve month high of $82.85.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 29th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.41%. The ex-dividend date was Thursday, May 28th. Fortive’s payout ratio is 8.05%.

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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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