Fortive (NYSE:FTV) is set to release its earnings data after the market closes on Thursday, July 29th. Analysts expect Fortive to post earnings of $0.60 per share for the quarter. Persons that wish to listen to the company's earnings conference call can do so using this link.
Fortive (NYSE:FTV) last announced its earnings results on Thursday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.60 by $0.03. Fortive had a return on equity of 12.85% and a net margin of 27.76%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. On average, analysts expect Fortive to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of NYSE:FTV opened at $69.56 on Thursday. Fortive has a 1 year low of $60.82 and a 1 year high of $82.12. The company's 50 day simple moving average is $70.72. The stock has a market capitalization of $23.55 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 4.50 and a beta of 1.13. The company has a quick ratio of 0.94, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.
A number of analysts recently issued reports on FTV shares. Zacks Investment Research lowered Fortive from a "buy" rating to a "hold" rating and set a $76.00 price target for the company. in a report on Wednesday, April 21st. Morgan Stanley boosted their price target on Fortive from $76.00 to $81.00 and gave the company an "equal weight" rating in a report on Friday, April 30th. Royal Bank of Canada lowered their price target on Fortive from $79.00 to $75.00 and set a "sector perform" rating for the company in a report on Thursday, May 20th. JPMorgan Chase & Co. upgraded Fortive from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $70.00 to $80.00 in a report on Thursday, May 20th. Finally, Credit Suisse Group lowered their price target on Fortive from $81.00 to $80.00 and set an "outperform" rating for the company in a report on Thursday, May 20th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of "Buy" and a consensus target price of $80.25.
In related news, Director Steven M. Rales sold 60,107 shares of the business's stock in a transaction that occurred on Wednesday, May 12th. The shares were sold at an average price of $69.79, for a total value of $4,194,867.53. Following the completion of the transaction, the director now owns 3,250,072 shares of the company's stock, valued at $226,822,524.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven M. Rales sold 1,368,180 shares of the company's stock in a transaction on Monday, May 10th. The stock was sold at an average price of $72.45, for a total value of $99,124,641.00. Following the transaction, the director now directly owns 3,250,072 shares in the company, valued at $235,467,716.40. The disclosure for this sale can be found here. Insiders own 12.60% of the company's stock.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.
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