$1.88 Billion in Sales Expected for Fortive Corp (NYSE:FTV) This Quarter

Equities research analysts expect Fortive Corp (NYSE:FTV) to report sales of $1.88 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Fortive’s earnings. The lowest sales estimate is $1.84 billion and the highest is $1.94 billion. Fortive posted sales of $1.84 billion during the same quarter last year, which suggests a positive year over year growth rate of 2.2%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, October 24th.

On average, analysts expect that Fortive will report full-year sales of $7.35 billion for the current year, with estimates ranging from $7.27 billion to $7.45 billion. For the next financial year, analysts anticipate that the firm will post sales of $7.80 billion, with estimates ranging from $7.75 billion to $7.91 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Fortive.

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

Several equities analysts have recently commented on FTV shares. Morgan Stanley lowered their target price on shares of Fortive from $85.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, October 11th. Citigroup lowered their price target on Fortive from $86.00 to $76.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Gordon Haskett lowered Fortive from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Bank of America reduced their target price on Fortive from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, Berenberg Bank set a $86.00 price target on Fortive and gave the company a “buy” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $79.25.

Shares of FTV stock traded up $0.93 during mid-day trading on Friday, hitting $71.87. The company had a trading volume of 907,455 shares, compared to its average volume of 2,422,858. Fortive has a 52-week low of $62.89 and a 52-week high of $89.48. The stock’s 50 day moving average price is $68.31 and its 200-day moving average price is $76.77. 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 company has a market capitalization of $23.79 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.73 and a beta of 1.21.

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Thursday, August 29th. Fortive’s payout ratio is presently 9.15%.

In other news, SVP Stacey A. Walker sold 34,446 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the transaction, the senior vice president now owns 20,015 shares in the company, valued at approximately $1,415,060.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.70% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Rational Advisors LLC acquired a new position in shares of Fortive in the 2nd quarter worth $33,000. Kavar Capital Partners LLC acquired a new stake in Fortive during the second quarter valued at $37,000. Compagnie Lombard Odier SCmA acquired a new stake in Fortive during the second quarter valued at $41,000. Kings Point Capital Management acquired a new stake in Fortive during the second quarter valued at $41,000. Finally, CSat Investment Advisory L.P. boosted its position in Fortive by 342.8% during the second quarter. CSat Investment Advisory L.P. now owns 673 shares of the technology company’s stock valued at $55,000 after purchasing an additional 521 shares during the last quarter. 82.65% of the stock is owned by hedge funds and other institutional investors.

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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