Fortive (NYSE:FTV) Updates Q3 2024 Earnings Guidance

Fortive (NYSE:FTV) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.920-0.950 for the period, compared to the consensus earnings per share estimate of 0.930. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Fortive also updated its FY 2024 guidance to 3.800-3.860 EPS.

Fortive Trading Up 0.6 %

Shares of Fortive stock opened at $72.51 on Thursday. Fortive has a 12-month low of $63.05 and a 12-month high of $87.10. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The stock has a market cap of $25.53 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 2.06 and a beta of 1.11. The company has a 50-day moving average of $72.23 and a two-hundred day moving average of $76.69.

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

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, September 13th. Fortive’s dividend payout ratio is presently 12.65%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FTV shares. TD Cowen raised shares of Fortive from a hold rating to a buy rating and raised their target price for the company from $75.00 to $90.00 in a research note on Monday, July 8th. Wolfe Research lowered Fortive from an outperform rating to a peer perform rating in a research report on Friday, September 6th. StockNews.com lowered Fortive from a buy rating to a hold rating in a research report on Thursday, September 5th. Royal Bank of Canada reaffirmed a sector perform rating and set a $77.00 target price on shares of Fortive in a research report on Friday, September 6th. Finally, Raymond James raised Fortive from a market perform rating to an outperform rating and set a $85.00 target price on the stock in a research report on Thursday, September 5th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $86.23.

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.