Zacks Investment Research Downgrades Fortive Corp (FTV) to Sell
According to Zacks, “Fortive Corporation is an industrial growth company. Its segment comprised of Professional Instrumentation and Industrial Technologies. Professional Instrumentation segment consists of instrumentation and solutions, sensing technologies businesses. Industrial Technologies segment consists of transportation technologies, automation and specialty components and franchise distribution businesses. Fortive Corporation is based in WA, United States. “
Other equities analysts also recently issued reports about the company. Credit Suisse Group AG reaffirmed a buy rating on shares of Fortive Corp in a research note on Saturday, July 9th. Bank of America Corp. started coverage on Fortive Corp in a research note on Tuesday, July 26th. They issued a buy rating and a $55.00 price objective for the company. Barclays PLC reaffirmed a buy rating on shares of Fortive Corp in a research note on Thursday, August 4th. Stifel Nicolaus started coverage on Fortive Corp in a research note on Thursday, July 14th. They issued a hold rating for the company. Finally, Argus started coverage on Fortive Corp in a research note on Thursday, September 8th. They issued a hold rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Fortive Corp currently has a consensus rating of Hold and a consensus price target of $52.60.
Shares of Fortive Corp (NYSE:FTV) opened at 49.95 on Wednesday. Fortive Corp has a 52-week low of $46.29 and a 52-week high of $54.34. The firm has a 50-day moving average price of $51.33 and a 200-day moving average price of $50.87. The stock has a market cap of $17.26 billion and a P/E ratio of 20.20.
Fortive Corp (NYSE:FTV) last issued its earnings results on Wednesday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $1.56 million for the quarter, compared to analysts’ expectations of $1.56 million. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $0.66 earnings per share. On average, analysts anticipate that Fortive Corp will post $2.43 EPS for the current fiscal year.
The firm also recently disclosed a special dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, August 26th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 24th.
Fortive Corp Company Profile
Fortive Corporation (Fortive) is an industrial growth company, which operates businesses that design, develop, manufacture, service and market professional and engineered products, software and services for a range of end markets. The Company has two segments: Professional Instrumentation and Industrial Technologies.
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