Fortive (NYSE:FTV) Issues Earnings Results, Beats Expectations By $0.01 EPS

Fortive (NYSE:FTV) posted its quarterly earnings results on Wednesday. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01, Briefing.com reports. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the business posted $0.85 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year.

Fortive Stock Down 0.6 %

FTV stock traded down $0.41 during trading on Thursday, hitting $69.99. 3,694,127 shares of the stock traded hands, compared to its average volume of 1,677,640. Fortive has a 1 year low of $63.05 and a 1 year high of $87.10. The firm’s 50 day moving average is $74.31 and its two-hundred day moving average is $78.41. The stock has a market cap of $24.64 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 2.24 and a beta of 1.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17.

Analyst Ratings Changes

Several research analysts have commented on FTV shares. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and upped their price objective for the stock from $75.00 to $90.00 in a report on Monday, July 8th. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. 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. Finally, Truist Financial decreased their price objective on shares of Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Fortive has an average rating of “Moderate Buy” and an average price target of $84.92.

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.