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Reasons to Retain Fortive (FTV) Stock in Your Portfolio
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Fortive Corporation (FTV - Free Report) is benefiting from strong revenue growth across all business segments and increased orders for both software and hardware offerings.
The company’s 2022 and 2023 revenues are anticipated to rise 10.4% and 3.4%, year over year, respectively. The company’s earnings are expected to increase 13.1% and 7.1% on a year-over-year basis in 2022 and 2023, respectively. The long-term EPS growth rate stands at 9.4%.
For third-quarter 2022, FTV expects adjusted net earnings in the range of 74-77 cents per share. Revenues are projected in the range of $1.43-$1.455 billion. For 2022, Fortive expects adjusted net earnings in the range of $3.07-$3.13 per share. Revenues are projected in the range of $5.775-$5.825 billion compared with the earlier guidance of $5.765-$5.875 billion.
For the third quarter, the Zacks Consensus Estimate for revenues stands at $1.45 billion, suggesting year-over-year growth of 11.3%, while the same for earnings is pegged at 76 cents per share, suggesting year-over-year growth of 15.2%.
FTV outpaced estimates in all the trailing four quarters, delivering an earnings surprise of 3.5%, on average.
In the last reported quarter, FTV reported second-quarter 2022 adjusted earnings of 78 cents per share, outpacing the Zacks Consensus Estimate by 8.3%. The figure also increased 18.2% year over year. Revenues increased 10.9% year over year to $1.46 billion and beat the Zacks Consensus Estimate by 3.6%. Also, core revenues moved up 8.9% from the year-ago quarter’s levels.
The stock is down 25.4% from its 52-week high level of $79.87 reached on Nov 22, 2021, making it more affordable for investors. In the past year, shares have lost 14.8% compared with the Zacks sub-industry’s decline of 18.4%.
Image Source: Zacks Investment Research
Strong Fundamentals
Headquartered in Washington, Fortive is a diversified industrial growth company. It provides industrial technology and professional instrumentation solutions on a global basis.
Fortive has a well-diversified product portfolio, which consists of professional and engineered products, software and services. These products are sold to a variety of end markets with secular tailwinds such as communications & networking, sensing, traffic management and franchise distribution, among others.
The company is gaining strong customer demand, especially in North America and Western Europe. The company raised its revenue guidance for 2022 due to a resilient portfolio and continued customer demand.
It has been focusing on improving the Fortive Business System to drive innovation and sustainable results.
Despite strong demand, the company's near-term prospects might be affected by global macroeconomic weakness, inflation and lingering supply chain troubles. Increasing expenses and stiff competition are added concerns for this Zacks Rank #3 (Hold) stock.
The Zacks Consensus Estimate for Pure Storage’s 2022 earnings is pegged at $1.18 per share, rising 24.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have gained 8.4% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2022 earnings is pegged at $2.55 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 3%.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being8.5%.
The Zacks Consensus Estimate for Synopsys’ 2022 earnings is pegged at $8.85 per share, up 4.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 16.2%.
Synopsys’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 3%. Shares of SNPS have gained 0.3% in the past year.
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Reasons to Retain Fortive (FTV) Stock in Your Portfolio
Fortive Corporation (FTV - Free Report) is benefiting from strong revenue growth across all business segments and increased orders for both software and hardware offerings.
The company’s 2022 and 2023 revenues are anticipated to rise 10.4% and 3.4%, year over year, respectively. The company’s earnings are expected to increase 13.1% and 7.1% on a year-over-year basis in 2022 and 2023, respectively. The long-term EPS growth rate stands at 9.4%.
For third-quarter 2022, FTV expects adjusted net earnings in the range of 74-77 cents per share. Revenues are projected in the range of $1.43-$1.455 billion. For 2022, Fortive expects adjusted net earnings in the range of $3.07-$3.13 per share. Revenues are projected in the range of $5.775-$5.825 billion compared with the earlier guidance of $5.765-$5.875 billion.
For the third quarter, the Zacks Consensus Estimate for revenues stands at $1.45 billion, suggesting year-over-year growth of 11.3%, while the same for earnings is pegged at 76 cents per share, suggesting year-over-year growth of 15.2%.
FTV outpaced estimates in all the trailing four quarters, delivering an earnings surprise of 3.5%, on average.
In the last reported quarter, FTV reported second-quarter 2022 adjusted earnings of 78 cents per share, outpacing the Zacks Consensus Estimate by 8.3%. The figure also increased 18.2% year over year. Revenues increased 10.9% year over year to $1.46 billion and beat the Zacks Consensus Estimate by 3.6%. Also, core revenues moved up 8.9% from the year-ago quarter’s levels.
The stock is down 25.4% from its 52-week high level of $79.87 reached on Nov 22, 2021, making it more affordable for investors. In the past year, shares have lost 14.8% compared with the Zacks sub-industry’s decline of 18.4%.
Image Source: Zacks Investment Research
Strong Fundamentals
Headquartered in Washington, Fortive is a diversified industrial growth company. It provides industrial technology and professional instrumentation solutions on a global basis.
Fortive has a well-diversified product portfolio, which consists of professional and engineered products, software and services. These products are sold to a variety of end markets with secular tailwinds such as communications & networking, sensing, traffic management and franchise distribution, among others.
The company is gaining strong customer demand, especially in North America and Western Europe. The company raised its revenue guidance for 2022 due to a resilient portfolio and continued customer demand.
It has been focusing on improving the Fortive Business System to drive innovation and sustainable results.
Despite strong demand, the company's near-term prospects might be affected by global macroeconomic weakness, inflation and lingering supply chain troubles. Increasing expenses and stiff competition are added concerns for this Zacks Rank #3 (Hold) stock.
Stocks to Consider
Some better-ranked stocks from the broader technology space are Pure Storage (PSTG - Free Report) , Blackbaud (BLKB - Free Report) and Synopsys (SNPS - Free Report) . Pure Storage and Blackbaud currently sport a Zacks Rank #1 (Strong Buy), whereas Synopsys carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Pure Storage’s 2022 earnings is pegged at $1.18 per share, rising 24.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have gained 8.4% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2022 earnings is pegged at $2.55 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 3%.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being8.5%.
The Zacks Consensus Estimate for Synopsys’ 2022 earnings is pegged at $8.85 per share, up 4.5% in the past 60 days. The long-term earnings growth rate is anticipated to be 16.2%.
Synopsys’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 3%. Shares of SNPS have gained 0.3% in the past year.