Fortive Corporation (FTV) Expected to Announce Earnings of $0.72 Per Share
Analysts expect Fortive Corporation (NYSE:FTV) to announce earnings per share (EPS) of $0.72 for the current quarter, Zacks reports. Eight analysts have issued estimates for Fortive Corporation’s earnings, with the lowest EPS estimate coming in at $0.71 and the highest estimate coming in at $0.74. Fortive Corporation reported earnings of $0.67 per share during the same quarter last year, which suggests a positive year over year growth rate of 7.5%. The firm is scheduled to announce its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Fortive Corporation will report full-year earnings of $2.78 per share for the current financial year, with EPS estimates ranging from $2.73 to $2.81. For the next fiscal year, analysts anticipate that the business will post earnings of $3.05 per share, with EPS estimates ranging from $3.00 to $3.28. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Fortive Corporation.
Fortive Corporation (NYSE:FTV) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share.
FTV has been the topic of several recent research reports. Morgan Stanley downgraded shares of Fortive Corporation from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $61.00 to $65.00 in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Cowen and Company lifted their target price on shares of Fortive Corporation from $46.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 19th. Zacks Investment Research downgraded shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Fortive Corporation in a research report on Monday, May 22nd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a research report on Sunday, July 30th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Fortive Corporation presently has an average rating of “Hold” and a consensus price target of $61.82.
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In other Fortive Corporation news, VP Raj Ratnakar sold 11,642 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $62.31, for a total transaction of $725,413.02. Following the completion of the sale, the vice president now owns 5,020 shares in the company, valued at approximately $312,796.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,565 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The disclosure for this sale can be found here. Insiders have sold a total of 21,956 shares of company stock valued at $1,392,744 in the last 90 days. 12.10% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd raised its stake in shares of Fortive Corporation by 53.3% in the second quarter. WINTON GROUP Ltd now owns 16,640 shares of the technology company’s stock worth $1,054,000 after buying an additional 5,783 shares during the period. North Star Asset Management Inc. raised its stake in shares of Fortive Corporation by 0.4% in the second quarter. North Star Asset Management Inc. now owns 7,701 shares of the technology company’s stock worth $488,000 after buying an additional 32 shares during the period. Krilogy Financial LLC raised its stake in shares of Fortive Corporation by 43.9% in the second quarter. Krilogy Financial LLC now owns 4,229 shares of the technology company’s stock worth $268,000 after buying an additional 1,290 shares during the period. Westwood Holdings Group Inc. acquired a new stake in shares of Fortive Corporation during the second quarter worth approximately $139,000. Finally, BB&T Investment Services Inc. acquired a new stake in shares of Fortive Corporation during the second quarter worth approximately $157,000. Institutional investors and hedge funds own 78.55% of the company’s stock.
Fortive Corporation (FTV) traded down 1.50% during trading on Thursday, reaching $65.16. 508,520 shares of the company’s stock were exchanged. The firm has a market cap of $22.62 billion, a P/E ratio of 25.66 and a beta of 0.23. Fortive Corporation has a 52-week low of $46.81 and a 52-week high of $67.48. The stock’s 50 day moving average price is $64.62 and its 200 day moving average price is $61.52.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.28 annualized dividend and a dividend yield of 0.42%. Fortive Corporation’s dividend payout ratio is currently 11.02%.
Fortive Corporation Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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