Fortive (NYSE:FTV) Updates Q3 Earnings Guidance

Fortive (NYSE:FTV) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.92-$0.95 for the period, compared to the consensus estimate of $0.93. The company issued revenue guidance of $1.55-$1.59 billion, compared to the consensus revenue estimate of $1.55 billion. Fortive also updated its FY24 guidance to $3.80-$3.86 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Raymond James upgraded shares of Fortive from a market perform rating to an outperform rating and set a $85.00 price target for the company in a research note on Thursday. Royal Bank of Canada cut their price objective on Fortive from $83.00 to $77.00 and set a sector perform rating for the company in a report on Thursday, July 25th. Barclays lowered their target price on shares of Fortive from $93.00 to $91.00 and set an overweight rating on the stock in a report on Thursday, July 25th. Wolfe Research lowered shares of Fortive from an outperform rating to a peer perform rating in a research report on Friday. Finally, StockNews.com cut Fortive from a buy rating to a hold rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $86.00.

Fortive Stock Up 1.5 %

Shares of NYSE:FTV opened at $72.80 on Friday. The company has a 50 day moving average of $72.29 and a 200-day moving average of $77.10. Fortive has a one year low of $63.05 and a one year high of $87.10. The stock has a market cap of $25.63 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 2.17 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts forecast that Fortive will post 3.82 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s payout ratio is presently 12.65%.

About Fortive

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.