Zacks: Brokerages Anticipate Fortive Corp (FTV) Will Post Earnings of $0.78 Per Share

Equities analysts expect Fortive Corp (NYSE:FTV) to report $0.78 earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Fortive’s earnings. The highest EPS estimate is $0.79 and the lowest is $0.77. Fortive reported earnings of $0.68 per share in the same quarter last year, which indicates a positive year over year growth rate of 14.7%. The firm is expected to announce its next earnings report after the market closes on Thursday, February 8th.

On average, analysts expect that Fortive will report full year earnings of $2.85 per share for the current financial year, with EPS estimates ranging from $2.81 to $2.87. For the next year, analysts expect that the company will report earnings of $3.21 per share, with EPS estimates ranging from $3.08 to $3.30. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Fortive.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Fortive had a return on equity of 31.67% and a net margin of 14.39%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year.

A number of equities research analysts have commented on FTV shares. SunTrust Banks reissued a “buy” rating and issued a $81.00 price objective on shares of Fortive in a research note on Friday, October 27th. Royal Bank of Canada reissued a “hold” rating and issued a $79.00 price objective on shares of Fortive in a research note on Thursday, January 4th. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Wednesday, January 3rd. Citigroup lifted their target price on Fortive from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, Argus raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $73.30.

Shares of Fortive (NYSE:FTV) opened at $76.57 on Monday. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06. Fortive has a one year low of $54.50 and a one year high of $76.68. The company has a market capitalization of $26,610.00 and a P/E ratio of 28.89.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, February 23rd will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, February 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.37%. Fortive’s payout ratio is 10.57%.

In related news, insider James A. Lico sold 50,000 shares of Fortive stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the transaction, the insider now owns 166,014 shares of the company’s stock, valued at $12,142,263.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Stacey A. Walker sold 4,775 shares of Fortive stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total value of $346,139.75. The disclosure for this sale can be found here. 12.10% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Capital World Investors lifted its holdings in Fortive by 37.9% during the second quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock worth $622,996,000 after acquiring an additional 2,701,496 shares during the period. JPMorgan Chase & Co. lifted its holdings in Fortive by 14.0% during the third quarter. JPMorgan Chase & Co. now owns 2,221,540 shares of the technology company’s stock worth $155,332,000 after acquiring an additional 273,003 shares during the period. Wells Fargo & Company MN lifted its holdings in Fortive by 3.8% during the third quarter. Wells Fargo & Company MN now owns 2,206,402 shares of the technology company’s stock worth $156,191,000 after acquiring an additional 80,482 shares during the period. APG Asset Management N.V. lifted its holdings in Fortive by 49.7% during the third quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock worth $154,483,000 after acquiring an additional 724,400 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Fortive by 9.0% during the third quarter. Legal & General Group Plc now owns 1,614,107 shares of the technology company’s stock worth $114,261,000 after acquiring an additional 133,704 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

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Fortive 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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Earnings History and Estimates for Fortive (NYSE:FTV)

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