Brokerages Anticipate Fortive Corp (NYSE:FTV) Will Post Quarterly Sales of $1.93 Billion

Wall Street brokerages expect Fortive Corp (NYSE:FTV) to announce $1.93 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for Fortive’s earnings. The lowest sales estimate is $1.90 billion and the highest is $1.98 billion. Fortive posted sales of $1.86 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.8%. The company is scheduled to report its next quarterly earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Fortive will report full-year sales of $7.52 billion for the current fiscal year, with estimates ranging from $7.47 billion to $7.60 billion. For the next year, analysts forecast that the firm will report sales of $8.04 billion, with estimates ranging from $7.98 billion to $8.13 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Fortive.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, April 25th. The technology company reported $0.69 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.69. Fortive had a return on equity of 19.44% and a net margin of 39.98%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis.

A number of research firms have recently weighed in on FTV. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a report on Monday, April 22nd. ValuEngine upgraded Fortive from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Barclays raised their target price on Fortive from $81.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Argus restated a “buy” rating on shares of Fortive in a report on Tuesday, April 30th. Finally, BMO Capital Markets raised their target price on Fortive from $96.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Fortive presently has a consensus rating of “Hold” and an average target price of $85.87.

In related news, VP Emily A. Weaver sold 600 shares of Fortive stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $85.53, for a total transaction of $51,318.00. Following the sale, the vice president now directly owns 9,796 shares in the company, valued at $837,851.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Barbara B. Hulit sold 11,386 shares of Fortive stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $86.16, for a total value of $981,017.76. Following the sale, the senior vice president now owns 48,891 shares in the company, valued at $4,212,448.56. The disclosure for this sale can be found here. Insiders have sold 33,155 shares of company stock worth $2,761,762 over the last quarter. 12.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Kentucky Retirement Systems bought a new stake in Fortive during the fourth quarter worth $865,000. Resource Management LLC purchased a new stake in Fortive in the first quarter worth $201,000. Banyan Capital Management Inc. purchased a new stake in Fortive in the first quarter worth $1,197,000. Pratt Collard Advisory Partners LLC purchased a new stake in Fortive in the first quarter worth $205,000. Finally, Deutsche Bank AG increased its position in Fortive by 79.0% in the fourth quarter. Deutsche Bank AG now owns 827,194 shares of the technology company’s stock worth $55,963,000 after buying an additional 365,059 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

FTV stock opened at $80.63 on Wednesday. Fortive has a twelve month low of $62.89 and a twelve month high of $89.48. The company has a quick ratio of 1.97, a current ratio of 2.20 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $79.27. The company has a market capitalization of $26.95 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 1.73 and a beta of 1.22.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.35%. Fortive’s dividend payout ratio (DPR) is currently 9.15%.

About Fortive

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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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