Fortive Corporation (FTV) Updates Q4 Earnings Guidance

Fortive Corporation (NYSE:FTV) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.74-0.78 for the period, compared to the Thomson Reuters consensus estimate of $0.77.

Shares of Fortive Corporation (NYSE FTV) opened at $72.65 on Friday. Fortive Corporation has a twelve month low of $52.99 and a twelve month high of $74.38. The company has a market capitalization of $25,250.16, a PE ratio of 26.32, a P/E/G ratio of 2.51 and a beta of 0.37. The company has a current ratio of 1.95, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06.

Fortive Corporation (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Fortive Corporation had a return on equity of 31.67% and a net margin of 14.39%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the company posted $0.65 earnings per share. Fortive Corporation’s revenue for the quarter was up 7.4% on a year-over-year basis. analysts expect that Fortive Corporation will post 2.85 EPS for the current fiscal year.

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

FTV has been the topic of a number of research reports. Zacks Investment Research upgraded Fortive Corporation from a hold rating to a buy rating and set a $78.00 price target on the stock in a research note on Tuesday, September 19th. SunTrust Banks, Inc. reiterated a buy rating and issued a $81.00 target price on shares of Fortive Corporation in a research note on Friday, October 27th. Morgan Stanley reiterated an equal weight rating and issued a $72.00 target price (up from $71.00) on shares of Fortive Corporation in a research note on Monday, October 2nd. Stifel Nicolaus reissued a hold rating and issued a $62.00 price target on shares of Fortive Corporation in a report on Sunday, July 30th. Finally, Royal Bank of Canada reaffirmed a hold rating and set a $66.00 price objective on shares of Fortive Corporation in a report on Friday, September 15th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Fortive Corporation has an average rating of Hold and an average price target of $69.10.

In other Fortive Corporation news, SVP Stacey A. Walker sold 4,775 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James A. Lico sold 50,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total value of $3,657,000.00. Following the transaction, the insider now owns 166,014 shares in the company, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,340 shares of company stock valued at $4,437,021. 12.10% of the stock is owned by company insiders.

TRADEMARK VIOLATION NOTICE: This article was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2017/11/12/fortive-corporation-ftv-releases-q4-earnings-guidance.html.

About Fortive Corporation

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.

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

Receive News & Ratings for Fortive Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply