Fortive (NYSE:FTV) Releases FY24 Earnings Guidance

Fortive (NYSE:FTV) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.80-$3.86 for the period, compared to the consensus EPS estimate of $3.81. The company issued revenue guidance of $6.25-$6.30 billion, compared to the consensus revenue estimate of $6.29 billion. Fortive also updated its Q3 guidance to $0.92-$0.95 EPS.

Analyst Ratings Changes

FTV has been the subject of a number of recent research reports. Barclays raised their target price on shares of Fortive from $91.00 to $94.00 and gave the stock an overweight rating in a research note on Friday. Raymond James upgraded Fortive from a market perform rating to an outperform rating and set a $85.00 price objective on the stock in a research report on Thursday. Mizuho upgraded Fortive from a neutral rating to an outperform rating and upped their target price for the company from $80.00 to $90.00 in a report on Friday. TD Cowen upgraded Fortive from a hold rating to a buy rating and lifted their price target for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Finally, StockNews.com cut shares of Fortive from a buy rating to a hold rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $86.23.

Fortive Trading Down 2.9 %

NYSE FTV opened at $70.67 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The stock has a market capitalization of $24.88 billion, a P/E ratio of 27.93, a PEG ratio of 2.17 and a beta of 1.12. The firm’s 50-day moving average is $72.23 and its two-hundred day moving average is $77.01. Fortive has a 12 month low of $63.05 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the business posted $0.85 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Fortive will post 3.82 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. Fortive’s payout ratio is presently 12.65%.

Fortive Company Profile

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.