Analysts expect that Fortive Corp (NYSE:FTV) will report $1.71 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Fortive’s earnings, with the highest sales estimate coming in at $1.73 billion and the lowest estimate coming in at $1.68 billion. Fortive reported sales of $1.54 billion in the same quarter last year, which indicates a positive year over year growth rate of 11%. The company is scheduled to announce its next earnings report on Thursday, April 26th.
On average, analysts expect that Fortive will report full-year sales of $1.71 billion for the current financial year, with estimates ranging from $7.19 billion to $7.38 billion. For the next year, analysts expect that the firm will post sales of $7.61 billion per share, with estimates ranging from $7.47 billion to $7.77 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Fortive.
Fortive (NYSE:FTV) last announced its earnings results on Thursday, February 8th. The technology company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year.
A number of brokerages have recently weighed in on FTV. Barclays began coverage on Fortive in a research note on Thursday. They issued an “overweight” rating and a $86.00 target price for the company. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on Fortive from $82.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. BMO Capital Markets lowered their target price on Fortive from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. Finally, Royal Bank of Canada restated a “hold” rating on shares of Fortive in a research note on Friday, February 9th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Fortive has a consensus rating of “Buy” and an average target price of $77.50.
Shares of Fortive (FTV) opened at $75.65 on Friday. Fortive has a 12 month low of $56.73 and a 12 month high of $76.68. The firm has a market capitalization of $26,290.00 and a price-to-earnings ratio of 27.41. The company has a quick ratio of 1.47, a current ratio of 1.83 and a debt-to-equity ratio of 1.07.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, February 23rd will be given a $0.07 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.37%. Fortive’s payout ratio is 10.14%.
A number of hedge funds have recently made changes to their positions in the stock. HM Payson & Co. increased its position in Fortive by 14.2% in the fourth quarter. HM Payson & Co. now owns 77,721 shares of the technology company’s stock worth $5,623,000 after purchasing an additional 9,662 shares during the period. Banco de Sabadell S.A acquired a new stake in Fortive in the fourth quarter worth about $2,093,000. Sterling Capital Management LLC acquired a new stake in Fortive in the fourth quarter worth about $233,000. Fieldpoint Private Securities LLC increased its position in Fortive by 20.7% in the fourth quarter. Fieldpoint Private Securities LLC now owns 5,543 shares of the technology company’s stock worth $401,000 after purchasing an additional 949 shares during the period. Finally, Lake Street Advisors Group LLC acquired a new stake in Fortive in the fourth quarter worth about $232,000. Hedge funds and other institutional investors own 78.59% of the company’s stock.
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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