Fortive (FTV) Issues FY19 Earnings Guidance

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Fortive (NYSE:FTV) updated its FY19 earnings guidance on Thursday. The company provided EPS guidance of $3.40-3.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.55. Fortive also updated its Q1 guidance to $0.64-0.68 EPS.

Several equities research analysts have recently commented on the company. Gordon Haskett assumed coverage on Fortive in a report on Friday, October 12th. They set a buy rating for the company. Royal Bank of Canada restated a hold rating and set a $74.00 price objective on shares of Fortive in a report on Wednesday, November 21st. Zacks Investment Research upgraded Fortive from a sell rating to a hold rating in a report on Tuesday, January 29th. TheStreet downgraded Fortive from a b- rating to a c rating in a report on Wednesday, December 19th. Finally, Credit Suisse Group decreased their price objective on Fortive from $89.00 to $86.00 and set a neutral rating for the company in a report on Friday, October 26th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $85.82.

Fortive stock traded up $2.40 during trading on Friday, hitting $76.82. 3,042,064 shares of the company were exchanged, compared to its average volume of 1,303,447. Fortive has a 52 week low of $62.89 and a 52 week high of $88.34. The company has a market capitalization of $24.85 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 0.54.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, February 7th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Fortive had a return on equity of 23.95% and a net margin of 40.50%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. Fortive’s revenue was up 11.4% compared to the same quarter last year. On average, analysts predict that Fortive will post 3.62 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, February 22nd will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, February 21st. This represents a $0.28 annualized dividend and a yield of 0.36%. Fortive’s dividend payout ratio (DPR) is currently 9.15%.

In other Fortive news, VP Jonathan L. Schwarz sold 8,869 shares of the business’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $74.70, for a total value of $662,514.30. Following the transaction, the vice president now owns 7,270 shares of the company’s stock, valued at $543,069. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider William W. Pringle sold 476 shares of the business’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $73.18, for a total value of $34,833.68. Following the completion of the transaction, the insider now directly owns 28,639 shares in the company, valued at approximately $2,095,802.02. The disclosure for this sale can be found here. Insiders have sold 9,813 shares of company stock valued at $732,570 in the last quarter. 12.20% of the stock is currently owned by corporate insiders.

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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 maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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