$1.71 Billion in Sales Expected for Fortive Corp (FTV) This Quarter
Equities research analysts forecast that Fortive Corp (NYSE:FTV) will post $1.71 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Fortive’s earnings. The lowest sales estimate is $1.68 billion and the highest is $1.73 billion. Fortive posted sales of $1.54 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 11%. The firm is scheduled to report its next quarterly earnings results on Thursday, April 26th.
According to Zacks, analysts expect that Fortive will report full year sales of $1.71 billion for the current financial year, with estimates ranging from $7.19 billion to $7.38 billion. For the next fiscal year, analysts forecast that the company will post sales of $7.61 billion per share, with estimates ranging from $7.47 billion to $7.77 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Fortive.
Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, February 8th. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Fortive had a return on equity of 30.54% and a net margin of 15.69%. Fortive’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share.
Shares of Fortive (FTV) opened at $73.99 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.83 and a quick ratio of 1.47. The company has a market capitalization of $25,750.89, a PE ratio of 25.00, a price-to-earnings-growth ratio of 2.23 and a beta of 0.42. Fortive has a 1 year low of $57.83 and a 1 year high of $78.83.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, February 22nd. Fortive’s dividend payout ratio (DPR) is 9.46%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTV. Renaissance Technologies LLC boosted its stake in shares of Fortive by 202.2% in the fourth quarter. Renaissance Technologies LLC now owns 869,000 shares of the technology company’s stock worth $62,872,000 after acquiring an additional 581,400 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Fortive by 106.3% in the third quarter. Janus Henderson Group PLC now owns 821,560 shares of the technology company’s stock worth $58,157,000 after acquiring an additional 423,247 shares during the period. Bain Capital Public Equity Management LLC bought a new position in shares of Fortive in the fourth quarter worth about $29,910,000. Schroder Investment Management Group boosted its stake in shares of Fortive by 39.4% in the fourth quarter. Schroder Investment Management Group now owns 1,364,280 shares of the technology company’s stock worth $98,706,000 after acquiring an additional 385,630 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Fortive by 1.7% in the fourth quarter. BlackRock Inc. now owns 20,013,760 shares of the technology company’s stock worth $1,447,996,000 after acquiring an additional 336,327 shares during the period. 78.31% of the stock is owned by hedge funds and other institutional investors.
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Fortive Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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