Trading Report: The Q4 2016 EPS Estimates for Fortive Corp. (FTV) Decreased by Analyst

The Q4 2016 EPS Estimates for Fortive Corp. (FTV) Decreased by Analyst

Fortive Corp. (NYSE:FTV) – Research analysts at William Blair cut their Q4 2016 EPS estimates for Fortive Corp. in a note issued to investors on Thursday. William Blair analyst T. Mulrooney now forecasts that the firm will post earnings per share of $0.66 for the quarter, down from their previous forecast of $0.67. William Blair currently has a “Market Perform” rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Citigroup Inc. initiated coverage on Fortive Corp. in a report on Tuesday, July 5th. They set a “neutral” rating on the stock. Bank of America Corp. initiated coverage on Fortive Corp. in a report on Tuesday, July 26th. They set a “buy” rating and a $55.00 target price on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $57.00 target price on shares of Fortive Corp. in a report on Thursday, July 7th. Morgan Stanley initiated coverage on Fortive Corp. in a report on Tuesday, July 5th. They set an “overweight” rating and a $55.00 target price on the stock. Finally, Robert W. Baird initiated coverage on Fortive Corp. in a research report on Friday, July 8th. They set a “neutral” rating and a $52.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.60.

Shares of Fortive Corp. (NYSE:FTV) opened at 50.21 on Monday. Fortive Corp. has a 12 month low of $46.29 and a 12 month high of $54.34. The firm’s 50-day moving average price is $50.01 and its 200-day moving average price is $50.52. The company has a market cap of $17.36 billion and a PE ratio of 19.64.

Fortive Corp. (NYSE:FTV) last announced its earnings results on Thursday, October 27th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.08. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year.

A hedge fund recently bought a new stake in Fortive Corp. stock. Profit Investment Management LLC bought a new position in shares of Fortive Corp. (NYSE:FTV) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,765 shares of the company’s stock, valued at approximately $243,000. 3.64% of the stock is currently owned by institutional investors.

About Fortive Corp.

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