Analysts Expect Fortive Corp (NYSE:FTV) to Announce $0.87 Earnings Per Share

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

On average, analysts expect that Fortive will report full-year earnings of $3.53 per share for the current financial year, with EPS estimates ranging from $3.46 to $3.60. For the next year, analysts forecast that the company will post earnings of $3.88 per share, with EPS estimates ranging from $3.71 to $4.00. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Fortive.

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



FTV has been the topic of several recent analyst reports. Cowen lowered Fortive from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $75.00 to $65.00 in a research report on Monday, June 3rd. Raymond James set a $84.00 price target on Fortive and gave the company an “outperform” rating in a research report on Friday, July 26th. Zacks Investment Research lowered Fortive from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Gordon Haskett lowered Fortive from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Berenberg Bank initiated coverage on Fortive in a research report on Wednesday, May 15th. They set a “buy” rating and a $96.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $85.87.

Shares of Fortive stock traded up $0.03 on Thursday, reaching $67.36. 58,693 shares of the company were exchanged, compared to its average volume of 1,996,436. The stock has a market cap of $23.17 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19. Fortive has a fifty-two week low of $62.89 and a fifty-two week 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 business has a fifty day simple moving average of $77.67.

In related news, VP Emily A. Weaver sold 519 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $80.98, for a total transaction of $42,028.62. Following the completion of the sale, the vice president now owns 8,627 shares in the company, valued at approximately $698,614.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Stacey A. Walker sold 34,446 shares of the 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 sale, the senior vice president now 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.

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in Fortive by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,033,586 shares of the technology company’s stock worth $69,929,000 after acquiring an additional 158,849 shares in the last quarter. Nordea Investment Management AB increased its holdings in Fortive by 4.8% in the 4th quarter. Nordea Investment Management AB now owns 30,029 shares of the technology company’s stock worth $2,031,000 after acquiring an additional 1,379 shares in the last quarter. Washington Trust Bank increased its holdings in Fortive by 34.5% in the 1st quarter. Washington Trust Bank now owns 749 shares of the technology company’s stock worth $63,000 after acquiring an additional 192 shares in the last quarter. Addenda Capital Inc. increased its holdings in Fortive by 6.1% in the 1st quarter. Addenda Capital Inc. now owns 22,002 shares of the technology company’s stock worth $1,846,000 after acquiring an additional 1,267 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Fortive by 12.5% in the 1st quarter. Huntington National Bank now owns 12,812 shares of the technology company’s stock worth $1,074,000 after acquiring an additional 1,423 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

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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Earnings History and Estimates for Fortive (NYSE:FTV)

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