Zacks: Analysts Expect Fortive Corp (FTV) Will Announce Quarterly Sales of $1.76 Billion

Wall Street analysts forecast that Fortive Corp (NYSE:FTV) will announce sales of $1.76 billion for the current quarter, according to Zacks. Eight analysts have provided estimates for Fortive’s earnings, with estimates ranging from $1.70 billion to $1.81 billion. Fortive posted sales of $1.63 billion in the same quarter last year, which would indicate a positive year over year growth rate of 8%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 6th.

On average, analysts expect that Fortive will report full-year sales of $1.76 billion for the current fiscal year, with estimates ranging from $6.51 billion to $6.66 billion. For the next financial year, analysts expect that the firm will post sales of $7.16 billion per share, with estimates ranging from $7.05 billion to $7.36 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Fortive.

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

A number of equities research analysts have issued reports on FTV shares. SunTrust Banks restated a “buy” rating and set a $81.00 price target on shares of Fortive in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Tuesday, September 26th. Royal Bank of Canada restated a “hold” rating and set a $70.00 price target on shares of Fortive in a report on Wednesday, October 11th. 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. Finally, Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $70.27.

In other news, SVP Stacey A. Walker sold 4,775 shares of the company’s stock in a transaction dated 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 accessible through this link. Also, insider James A. Lico sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were 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. 12.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in FTV. Steward Partners Investment Advisory LLC acquired a new position in Fortive in the third quarter worth about $135,000. Westwood Holdings Group Inc. acquired a new position in Fortive in the second quarter worth about $139,000. Sun Life Financial INC raised its position in Fortive by 21,940.0% in the second quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,194 shares in the last quarter. Willingdon Wealth Management acquired a new position in Fortive in the third quarter worth about $143,000. Finally, Captrust Financial Advisors acquired a new position in Fortive in the second quarter worth about $147,000. 78.74% of the stock is owned by institutional investors and hedge funds.

Shares of Fortive (NYSE FTV) traded down $0.15 during trading hours on Thursday, reaching $72.35. 843,005 shares of the company were exchanged, compared to its average volume of 1,120,000. The company has a market capitalization of $25,200.00 and a PE ratio of 27.30. Fortive has a 12-month low of $52.99 and a 12-month high of $75.69. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54.

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

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About Fortive

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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