$1.92 Billion in Sales Expected for Fortive Corp (NYSE:FTV) This Quarter
Wall Street brokerages expect Fortive Corp (NYSE:FTV) to report sales of $1.92 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Fortive’s earnings, with the highest sales estimate coming in at $1.96 billion and the lowest estimate coming in at $1.84 billion. Fortive reported sales of $1.84 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.3%. The firm is scheduled to report its next quarterly earnings report on Thursday, October 24th.
According to Zacks, analysts expect that Fortive will report full-year sales of $7.43 billion for the current fiscal year, with estimates ranging from $7.30 billion to $7.58 billion. For the next financial year, analysts forecast that the business will post sales of $7.92 billion, with estimates ranging from $7.78 billion to $8.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Fortive.
Fortive (NYSE:FTV) last released its earnings results on Thursday, July 25th. The technology company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS.
In other Fortive news, VP Emily A. Weaver sold 519 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $80.98, for a total transaction of $42,028.62. Following the transaction, the vice president now owns 8,627 shares of the company’s stock, valued at approximately $698,614.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 34,446 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $70.70, for a total value of $2,435,332.20. Following the transaction, the senior vice president now directly owns 20,015 shares in the company, valued at $1,415,060.50. The disclosure for this sale can be found here. Insiders have sold a total of 54,965 shares of company stock worth $4,112,161 in the last ninety days. Insiders own 12.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Resource Management LLC bought a new stake in shares of Fortive during the 1st quarter worth $201,000. Banyan Capital Management Inc. acquired a new position in Fortive in the 1st quarter valued at about $1,197,000. Pratt Collard Advisory Partners LLC acquired a new position in shares of Fortive in the 1st quarter worth approximately $205,000. Dempze Nancy E lifted its holdings in shares of Fortive by 1.8% in the 1st quarter. Dempze Nancy E now owns 11,885 shares of the technology company’s stock worth $997,000 after acquiring an additional 205 shares during the last quarter. Finally, Synovus Financial Corp lifted its holdings in shares of Fortive by 1.7% in the 1st quarter. Synovus Financial Corp now owns 36,522 shares of the technology company’s stock worth $3,051,000 after acquiring an additional 606 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.
NYSE FTV traded up $1.27 during trading on Friday, hitting $70.34. The stock had a trading volume of 44,252 shares, compared to its average volume of 1,972,523. The firm has a market cap of $23.66 billion, a P/E ratio of 22.94, a PEG ratio of 2.08 and a beta of 1.19. The company has a 50-day moving average price of $78.14. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98. Fortive has a 12 month low of $62.89 and a 12 month high of $89.48.
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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