Brokerages Expect Fortive Corp (FTV) Will Announce Earnings of $0.88 Per Share

Equities research analysts predict that Fortive Corp (NYSE:FTV) will post earnings of $0.88 per share for the current fiscal quarter, according to Zacks. Five analysts have provided 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 posted earnings per share of $0.77 in the same quarter last year, which would suggest a positive year over year growth rate of 14.3%. The company is scheduled to announce its next earnings results after the market closes on Thursday, October 25th.

On average, analysts expect that Fortive will report full year earnings of $3.47 per share for the current financial year, with EPS estimates ranging from $3.35 to $3.50. For the next year, analysts expect that the company will post earnings of $3.81 per share, with EPS estimates ranging from $3.67 to $4.05. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Fortive.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, July 26th. The technology company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Fortive had a net margin of 16.38% and a return on equity of 27.22%. Fortive’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS.

Several research firms have weighed in on FTV. Zacks Investment Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. Wolfe Research began coverage on shares of Fortive in a research report on Wednesday, June 27th. They set an “outperform” rating on the stock. BMO Capital Markets boosted their target price on shares of Fortive from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 27th. Citigroup boosted their target price on shares of Fortive from $80.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Finally, Morgan Stanley boosted their target price on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $86.33.

In other news, insider William W. Pringle sold 440 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $79.38, for a total value of $34,927.20. Following the sale, the insider now directly owns 20,626 shares of the company’s stock, valued at approximately $1,637,291.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 5,514 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $80.89, for a total transaction of $446,027.46. Following the completion of the sale, the chief financial officer now directly owns 25,411 shares in the company, valued at $2,055,495.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,602 shares of company stock worth $6,047,572. 12.20% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Private Capital Advisors Inc. boosted its holdings in shares of Fortive by 15.8% in the 3rd quarter. Private Capital Advisors Inc. now owns 26,706 shares of the technology company’s stock valued at $1,891,000 after acquiring an additional 3,640 shares during the last quarter. Chesley Taft & Associates LLC boosted its holdings in Fortive by 1.1% during the third quarter. Chesley Taft & Associates LLC now owns 128,961 shares of the technology company’s stock worth $10,859,000 after buying an additional 1,390 shares in the last quarter. Busey Trust CO boosted its holdings in Fortive by 1.7% during the third quarter. Busey Trust CO now owns 94,568 shares of the technology company’s stock worth $7,963,000 after buying an additional 1,553 shares in the last quarter. Wendell David Associates Inc. boosted its holdings in Fortive by 4.1% during the third quarter. Wendell David Associates Inc. now owns 19,868 shares of the technology company’s stock worth $1,673,000 after buying an additional 775 shares in the last quarter. Finally, Sky Investment Group LLC boosted its holdings in Fortive by 67.7% during the third quarter. Sky Investment Group LLC now owns 41,830 shares of the technology company’s stock worth $3,522,000 after buying an additional 16,881 shares in the last quarter. 81.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE FTV traded up $0.62 during trading hours on Friday, hitting $79.20. 2,258,476 shares of the stock were exchanged, compared to its average volume of 3,089,438. The company has a quick ratio of 1.68, a current ratio of 1.96 and a debt-to-equity ratio of 0.52. The firm has a market cap of $29.40 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 2.04 and a beta of 0.56. Fortive has a 12 month low of $69.03 and a 12 month high of $88.34.

The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, August 31st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Thursday, August 30th. Fortive’s dividend payout ratio is presently 9.69%.

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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