$0.78 Earnings Per Share Expected for Fortive Corp (FTV) This Quarter

Wall Street analysts predict that Fortive Corp (NYSE:FTV) will post earnings per share of $0.78 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 posted earnings of $0.68 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 14.7%. The firm is expected to announce its next quarterly earnings report on Tuesday, February 6th.

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 fiscal year, analysts expect that the business will report earnings of $3.20 per share, with EPS estimates ranging from $3.08 to $3.25. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Fortive.

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

Several brokerages have issued reports on FTV. SunTrust Banks reaffirmed a “buy” rating and issued a $81.00 price target on shares of Fortive in a report on Friday, October 27th. Citigroup upped their price target on shares of Fortive from $72.00 to $74.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $70.00 price target on shares of Fortive in a report on Wednesday, October 11th. BMO Capital Markets began coverage on shares of Fortive in a report on Wednesday, November 15th. They issued an “outperform” rating and a $82.00 price target on the stock. Finally, Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a 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’s stock. The stock has an average rating of “Hold” and an average target price of $70.27.

In related news, SVP Stacey A. Walker sold 4,775 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James A. Lico sold 50,000 shares of the company’s 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 directly owns 166,014 shares of the company’s stock, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new position in shares of Fortive in the third quarter valued at $135,000. Westwood Holdings Group Inc. bought a new position in Fortive during the 2nd quarter valued at $139,000. Sun Life Financial INC boosted its stake in Fortive by 21,940.0% during the 2nd quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock valued at $140,000 after acquiring an additional 2,194 shares during the last quarter. Willingdon Wealth Management bought a new position in Fortive during the 3rd quarter valued at $143,000. Finally, Captrust Financial Advisors bought a new position in Fortive during the 2nd quarter valued at $147,000. 78.74% of the stock is owned by hedge funds and other institutional investors.

Fortive (NYSE:FTV) traded down $0.33 during mid-day trading on Tuesday, reaching $72.47. 981,600 shares of the company were exchanged, compared to its average volume of 1,336,533. The stock has a market capitalization of $25,187.60, a P/E ratio of 27.35, a P/E/G ratio of 2.50 and a beta of 0.38. Fortive has a 52-week low of $52.99 and a 52-week high of $75.69. The company has a current ratio of 1.95, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive’s dividend payout ratio is presently 10.57%.

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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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