Fortive (NYSE:FTV) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Fortive (NYSE:FTV) posted its quarterly earnings results on Wednesday. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01, Briefing.com reports. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS.

Fortive Stock Performance

Shares of NYSE:FTV traded down $0.41 on Thursday, hitting $69.99. The company’s stock had a trading volume of 3,694,127 shares, compared to its average volume of 1,677,640. Fortive has a 12 month low of $63.05 and a 12 month high of $87.10. The company has a market capitalization of $24.64 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 2.24 and a beta of 1.12. The stock’s 50-day moving average is $74.16 and its two-hundred day moving average is $78.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Truist Financial dropped their price target on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada dropped their target price on Fortive from $83.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Finally, Citigroup dropped their target price on Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and a consensus price target of $84.92.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.