$0.88 EPS Expected for Fortive Corp (FTV) This Quarter
Analysts expect that Fortive Corp (NYSE:FTV) will announce earnings per share (EPS) of $0.88 for the current quarter, Zacks reports. Five analysts have provided 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 $0.77 in the same quarter last year, which would indicate a positive year over year growth rate of 14.3%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, October 25th.
On average, analysts expect that Fortive will report full-year earnings of $3.47 per share for the current financial year, with EPS estimates ranging from $3.35 to $3.50. For the next fiscal year, analysts forecast that the firm will report earnings of $3.81 per share, with EPS estimates ranging from $3.67 to $4.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Fortive.
Fortive (NYSE:FTV) last announced its earnings results on Thursday, July 26th. The technology company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. Fortive had a return on equity of 27.22% and a net margin of 16.38%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share.
Shares of NYSE FTV traded up $0.62 during trading hours on Friday, reaching $79.20. 2,258,476 shares of the stock were exchanged, compared to its average volume of 3,089,438. The firm has a market cap of $29.40 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 2.04 and a beta of 0.56. The company has a current ratio of 1.96, a quick ratio of 1.68 and a debt-to-equity ratio of 0.52. Fortive has a 52 week low of $69.03 and a 52 week high of $88.34.
The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, August 31st were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Thursday, August 30th. Fortive’s dividend payout ratio is currently 9.69%.
In other Fortive news, insider William W. Pringle sold 440 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $79.38, for a total value of $34,927.20. Following the sale, the insider now owns 20,626 shares of the company’s stock, valued at approximately $1,637,291.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alan G. Spoon bought 18,000 shares of Fortive stock in a transaction on Thursday, August 2nd. The stock was acquired at an average cost of $80.80 per share, for a total transaction of $1,454,400.00. Following the acquisition, the director now owns 48,268 shares in the company, valued at approximately $3,900,054.40. The disclosure for this purchase can be found here. Insiders have sold 74,602 shares of company stock worth $6,047,572 in the last three months. 12.20% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of FTV. FMR LLC boosted its holdings in shares of Fortive by 20.0% in the 2nd quarter. FMR LLC now owns 23,755,263 shares of the technology company’s stock valued at $1,831,768,000 after purchasing an additional 3,960,523 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Fortive in the 2nd quarter valued at $185,524,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Fortive by 23.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,150,214 shares of the technology company’s stock valued at $397,134,000 after purchasing an additional 984,564 shares in the last quarter. Findlay Park Partners LLP acquired a new stake in shares of Fortive in the 2nd quarter valued at $69,399,000. Finally, Jennison Associates LLC acquired a new stake in shares of Fortive in the 2nd quarter valued at $48,009,000. 81.42% of the stock is currently owned by hedge funds and other institutional investors.
Fortive Company Profile
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 maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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