Fortive (FTV) Issues FY19 Earnings Guidance

Fortive (NYSE:FTV) issued an update on its FY19 earnings guidance on Thursday morning. The company provided EPS guidance of $3.40-3.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.55. Fortive also updated its Q1 guidance to $0.64-0.68 EPS.

NYSE FTV traded up $2.40 on Friday, reaching $76.82. The stock had a trading volume of 3,042,064 shares, compared to its average volume of 1,303,447. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.98 and a quick ratio of 0.79. Fortive has a 1-year low of $62.89 and a 1-year high of $88.34. The firm has a market cap of $24.85 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 1.81 and a beta of 1.11.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, February 7th. The technology company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Fortive had a return on equity of 23.95% and a net margin of 40.50%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm posted $0.82 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities analysts anticipate that Fortive will post 3.62 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, February 22nd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Thursday, February 21st. Fortive’s dividend payout ratio is 9.15%.

Several analysts have recently issued reports on FTV shares. TheStreet raised Fortive from a c rating to a b- rating in a report on Wednesday, January 30th. SunTrust Banks reduced their target price on Fortive from $92.00 to $85.00 and set a buy rating on the stock in a report on Monday, October 29th. Gordon Haskett started coverage on Fortive in a report on Friday, October 12th. They set a buy rating on the stock. Zacks Investment Research raised Fortive from a sell rating to a hold rating in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $74.00 price objective on shares of Fortive in a research note on Wednesday, November 21st. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Fortive presently has an average rating of Buy and an average price target of $85.82.

In related news, VP Jonathan L. Schwarz sold 8,869 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $74.70, for a total value of $662,514.30. Following the sale, the vice president now directly owns 7,270 shares of the company’s stock, valued at $543,069. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William W. Pringle sold 476 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $73.18, for a total value of $34,833.68. Following the completion of the sale, the insider now directly owns 28,639 shares in the company, valued at $2,095,802.02. The disclosure for this sale can be found here. Insiders sold 9,813 shares of company stock worth $732,570 over the last ninety days. 12.20% of the stock is currently owned by insiders.

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About Fortive

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 maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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