Fortive (NYSE:FTV) Issues Q3 Earnings Guidance

Fortive (NYSE:FTV) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.92-$0.95 for the period, compared to the consensus EPS estimate of $0.93. The company issued revenue guidance of $1.55-$1.59 billion, compared to the consensus revenue estimate of $1.55 billion. Fortive also updated its FY24 guidance to $3.80-$3.86 EPS.

Fortive Trading Up 1.5 %

Shares of NYSE:FTV opened at $72.80 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The stock has a market capitalization of $25.63 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 2.17 and a beta of 1.12. The company has a 50 day moving average price of $72.29 and a 200 day moving average price of $77.10. Fortive has a 1-year low of $63.05 and a 1-year high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, research analysts anticipate that Fortive will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is currently 12.65%.

Analyst Ratings Changes

FTV has been the subject of several recent research reports. Raymond James upgraded Fortive from a market perform rating to an outperform rating and set a $85.00 price objective for the company in a report on Thursday. StockNews.com downgraded shares of Fortive from a buy rating to a hold rating in a report on Thursday. Royal Bank of Canada decreased their price objective on shares of Fortive from $83.00 to $77.00 and set a sector perform rating for the company in a report on Thursday, July 25th. TD Cowen upgraded Fortive from a hold rating to a buy rating and raised their target price for the company from $75.00 to $90.00 in a report on Monday, July 8th. Finally, Mizuho upgraded Fortive from a neutral rating to an outperform rating and boosted their target price for the stock from $80.00 to $90.00 in a report on Friday. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Fortive currently has an average rating of Moderate Buy and an average price target of $86.00.

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.