Analysts predict that Fortive Corp (NYSE:FTV) will report earnings of $0.74 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Fortive’s earnings. The highest EPS estimate is $0.76 and the lowest is $0.72. Fortive reported earnings per share of $0.60 in the same quarter last year, which would suggest a positive year-over-year growth rate of 23.3%. The company is expected to issue its next earnings report on Thursday, April 26th.
On average, analysts expect that Fortive will report full-year earnings of $3.42 per share for the current financial year, with EPS estimates ranging from $3.35 to $3.47. For the next financial year, analysts anticipate that the firm will report earnings of $3.69 per share, with EPS estimates ranging from $3.63 to $3.72. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Fortive.
Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, February 8th. The technology company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.77 billion. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share.
A number of analysts recently commented on the company. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Thursday, January 11th. Citigroup boosted their target price on Fortive from $76.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. boosted their target price on Fortive from $82.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Argus upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, ValuEngine lowered Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Fortive has a consensus rating of “Buy” and an average target price of $77.50.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Fortive by 1.7% in the 4th quarter. BlackRock Inc. now owns 20,013,760 shares of the technology company’s stock valued at $1,447,996,000 after purchasing an additional 336,327 shares during the period. Brown Advisory Inc. grew its position in shares of Fortive by 2.7% in the 4th quarter. Brown Advisory Inc. now owns 6,447,021 shares of the technology company’s stock valued at $466,443,000 after purchasing an additional 168,219 shares during the period. Bank of New York Mellon Corp grew its position in shares of Fortive by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,887,383 shares of the technology company’s stock valued at $281,251,000 after purchasing an additional 101,819 shares during the period. Bessemer Group Inc. grew its position in shares of Fortive by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 3,852,139 shares of the technology company’s stock valued at $278,702,000 after purchasing an additional 14,898 shares during the period. Finally, TIAA CREF Investment Management LLC grew its position in shares of Fortive by 2.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 3,547,568 shares of the technology company’s stock valued at $256,667,000 after purchasing an additional 68,079 shares during the period. Institutional investors own 78.59% of the company’s stock.
Shares of Fortive (NYSE:FTV) opened at $75.65 on Thursday. 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 has a market capitalization of $26,311.07, a PE ratio of 25.56, a P/E/G ratio of 2.28 and a beta of 0.51. Fortive has a 12-month low of $56.73 and a 12-month high of $76.68.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.37%. Fortive’s payout ratio is currently 9.46%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.