Zacks: Analysts Expect Fortive Corp (NYSE:FTV) Will Announce Earnings of $0.87 Per Share

Equities analysts predict that Fortive Corp (NYSE:FTV) will report earnings of $0.87 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Fortive’s earnings, with the lowest EPS estimate coming in at $0.86 and the highest estimate coming in at $0.89. Fortive reported earnings per share of $0.86 during the same quarter last year, which suggests a positive year over year growth rate of 1.2%. The firm is expected to announce its next earnings results on Thursday, October 24th.

On average, analysts expect that Fortive will report full-year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.46 to $3.60. For the next year, analysts anticipate that the firm will report earnings of $3.88 per share, with EPS estimates ranging from $3.71 to $4.00. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Fortive.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. The firm’s revenue was up 16.4% compared to the same quarter last year.

Several research firms recently weighed in on FTV. Argus reissued a “buy” rating on shares of Fortive in a research report on Tuesday, April 30th. Gordon Haskett cut Fortive from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Zacks Investment Research cut Fortive from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. BMO Capital Markets boosted their price objective on Fortive from $96.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Raymond James set a $84.00 price objective on Fortive and gave the stock an “outperform” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $85.87.

Shares of NYSE FTV traded up $0.03 during trading hours on Thursday, hitting $67.36. 58,693 shares of the company’s stock were exchanged, compared to its average volume of 1,996,436. Fortive has a 1-year low of $62.89 and a 1-year high of $89.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98. The stock has a market cap of $23.17 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19. The firm has a 50-day moving average of $77.67.

In other Fortive news, VP Emily A. Weaver sold 519 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $80.98, for a total value of $42,028.62. Following the completion of the transaction, the vice president now owns 8,627 shares of the company’s stock, valued at approximately $698,614.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Stacey A. Walker sold 34,446 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $70.70, for a total value of $2,435,332.20. Following the completion of the transaction, the senior vice president now directly owns 20,015 shares of the company’s stock, valued at approximately $1,415,060.50. The disclosure for this sale can be found here. Corporate insiders own 12.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FTV. Resource Management LLC bought a new position in shares of Fortive in the 1st quarter valued at about $201,000. Chesapeake Wealth Management grew its holdings in shares of Fortive by 35.2% in the 2nd quarter. Chesapeake Wealth Management now owns 10,623 shares of the technology company’s stock valued at $866,000 after acquiring an additional 2,763 shares in the last quarter. Banyan Capital Management Inc. bought a new position in shares of Fortive in the 1st quarter valued at about $1,197,000. Pratt Collard Advisory Partners LLC bought a new position in shares of Fortive in the 1st quarter valued at about $205,000. Finally, Dempze Nancy E grew its holdings in shares of Fortive by 1.8% in the 1st quarter. Dempze Nancy E now owns 11,885 shares of the technology company’s stock valued at $997,000 after acquiring an additional 205 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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