Fortive (NYSE:FTV) Issues Earnings Results

Fortive (NYSE:FTV) posted its earnings results on Wednesday. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01, Briefing.com reports. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the business posted $0.85 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year.

Fortive Trading Up 1.5 %

NYSE FTV traded up $1.04 on Friday, reaching $71.03. The company had a trading volume of 1,126,008 shares, compared to its average volume of 1,673,783. The stock’s 50 day moving average is $74.16 and its 200-day moving average is $78.36. The stock has a market cap of $25.00 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 2.05 and a beta of 1.12. The company has a quick ratio of 1.17, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. Fortive has a 52 week low of $63.05 and a 52 week high of $87.10.

Analyst Ratings Changes

A number of research analysts recently issued reports on FTV shares. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and lifted their target price for the stock from $75.00 to $90.00 in a report on Monday, July 8th. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Royal Bank of Canada dropped their price target on Fortive from $83.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company dropped their price target on Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.92.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.