Zacks: Brokerages Expect Fortive Corp (FTV) to Post $0.87 EPS

Analysts expect that Fortive Corp (NYSE:FTV) will post $0.87 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Fortive’s earnings, with the highest EPS estimate coming in at $0.88 and the lowest estimate coming in at $0.86. Fortive reported earnings per share of $0.77 during the same quarter last year, which would suggest a positive year-over-year growth rate of 13%. The firm is scheduled to report its next quarterly earnings results on Thursday, October 25th.

On average, analysts expect that Fortive will report full-year earnings of $3.49 per share for the current fiscal year, with EPS estimates ranging from $3.46 to $3.53. For the next financial year, analysts expect that the company will post earnings of $3.82 per share, with EPS estimates ranging from $3.67 to $4.10. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Fortive.

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

FTV has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, July 12th. ValuEngine cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. TheStreet raised shares of Fortive from a “c” rating to a “b-” rating in a research note on Monday, June 11th. 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 note on Tuesday, July 31st. Finally, Wolfe Research started coverage on shares of Fortive in a research note on Wednesday, June 27th. They set an “outperform” rating for the company. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $83.11.

In other news, VP Raj Ratnakar sold 30,912 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $80.71, for a total transaction of $2,494,907.52. Following the completion of the sale, the vice president now owns 13,244 shares of the company’s stock, valued at $1,068,923.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 16,420 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $80.71, for a total transaction of $1,325,258.20. Following the sale, the senior vice president now directly owns 16,960 shares of the company’s stock, valued at approximately $1,368,841.60. The disclosure for this sale can be found here. Insiders have sold 74,162 shares of company stock valued at $6,012,644 in the last three months. Corporate insiders own 12.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in FTV. FMR LLC grew its stake in Fortive by 20.0% during the 2nd quarter. FMR LLC now owns 23,755,263 shares of the technology company’s stock valued at $1,831,768,000 after acquiring an additional 3,960,523 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in Fortive during the 2nd quarter valued at about $185,524,000. Massachusetts Financial Services Co. MA grew its stake in Fortive by 32.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,165,650 shares of the technology company’s stock valued at $322,921,000 after acquiring an additional 1,022,977 shares in the last quarter. Findlay Park Partners LLP purchased a new stake in Fortive during the 2nd quarter valued at about $69,399,000. Finally, Jennison Associates LLC purchased a new stake in Fortive during the 2nd quarter valued at about $48,009,000. 80.86% of the stock is owned by institutional investors.

Shares of Fortive stock traded down $0.39 during trading hours on Monday, reaching $79.31. The stock had a trading volume of 1,497,400 shares, compared to its average volume of 1,695,028. The company has a market cap of $27.83 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 2.15 and a beta of 0.56. Fortive has a twelve month low of $63.97 and a twelve month high of $82.63. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.68 and a current ratio of 1.96.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 31st will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.35%. Fortive’s dividend payout ratio is currently 9.69%.

Fortive Company Profile

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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Earnings History and Estimates for Fortive (NYSE:FTV)

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