Fortive Corp reports results for the quarter ended June 30 - Earnings Summary

• Fortive Corp FTV.N reported quarterly adjusted earnings of 90 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 93 cents. The mean expectation of seventeen analysts for the quarter was for earnings of 59 cents per share. Wall Street expected results to range from 55 cents to 63 cents per share.

• Revenue fell 2.2% to $1.52 billion from a year ago; analysts expected $1.01 billion.

• Fortive Corp's reported EPS for the quarter was 49 cents​.

• The company reported quarterly net income of $111.6 million.

• Fortive Corp shares had fallen by 2.3% this quarter and lost 9.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 39.5% in the last three months.​

• In the last 30 days, eleven analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy," 11 "hold" and no "sell" or "strong sell." The average consensus recommendation for the industrial machinery & equipment peer group is also "buy"

• Wall Street's median 12-month price target for Fortive Corp is $60.14, about 15.3% above its last closing price of $50.92

This summary was machine generated from LSEG data July 30 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)