Fortive Corporation ($FTV) Stock Forecast: Down 7.2% Today

What is Fortive Corporation?

Fortive (NYSE: FTV) is a company that provides essential technologies for connected workflow solutions. In the second quarter of 2024, the company reported mixed financial results with a slight revenue miss but beating earnings per share estimates.

Why is Fortive Corporation going down?

FTV stock is down 7.2% on Jul 24, 2024 16:45

• Fortive's stock experienced a bearish movement despite beating EPS estimates, attributed to the revenue falling short of expectations.
• The company's tightened full-year forecasts and the cut in revenue view for the next quarter might have contributed to the negative market sentiment.
• Investors may have reacted negatively to the decline in revenue for Precision Technologies segment, despite growth in other segments like Intelligent Operating Solutions and Advanced Healthcare Solutions.
• The market reaction could also be influenced by the company's adjusted operating margin improvement and the increase in fiscal 2024 earnings forecast, signaling a mixed bag of results leading to the bearish movement.

FTV Price Chart

FTV Technical Analysis

FTV News

FTV Stock Earnings: Fortive Beats EPS, Misses Revenue for Q2 2024

Fortive (NYSE:FTV) just reported results for the second quarter of 2024. Fortive reported earnings per share of 93 cents. This was above the analyst estimate for EPS of 92 cents. The company reported revenue of $1.55 billion. This was 1.15% worse than the analyst estimate for revenue of $1.57 billion. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com.

https://investorplace.com/earning-results/2024/07/ftv-stock-earnings-fortive-for-q2-of-2024/

Fortive''s Mixed Q2 Bag: Slight Revenue Miss Coupled with Tightened Full-Year Forecasts

Fortive Corporation (NYSE: FTV ) shares are trading lower after the company reported second-quarter FY24 results . Revenue grew 2% Y/Y to $1.55 billion, marginally missing the consensus of $1.57 billion. Core Growth Sales by segments: Intelligent Operating Solutions $677.0 million (+3.1% Y/Y), Precision Technologies $552 million (-6.6% Y/Y), and Advanced Healthcare Solutions $324 million (+5.0% Y/Y). The company’s adjusted operating margin is up 90 basis points Y/Y to 27% in the quarter. Adjusted EPS of $0.93, beating the consensus of $0.92 . The company reported an operating cash flow of $309 million and a free cash flow of $280 million in the quarter. James A. Lico, President … Full story available on Benzinga.com

https://www.benzinga.com/news/earnings/24/07/39935022/fortives-mixed-q2-bag-slight-revenue-miss-coupled-with-tightened-full-year-forecasts

Fortive Corp Q2 2024 Earnings: EPS of $0.55 Misses Estimates, Revenue at $1.55 Billion Falls Short

Fortive Corp Q2 2024 Earnings: EPS of $0.55 Misses Estimates, Revenue at $1.55 Billion Falls Short

https://www.gurufocus.com/news/2479978/fortive-corp-q2-2024-earnings-eps-of-055-misses-estimates-revenue-at-155-billion-falls-short

Fortive Issues Q3 Outlook; Lifts FY24 Earnings Forecast, Cuts Revenue View

WASHINGTON (dpa-AFX) - Fortive Corp. (FTV), a provider of essential technologies for connected workflow solutions, on Wednesday issued third-quarter outlook, and raised fiscal 2024 earnings foreca…

https://www.finanznachrichten.de/nachrichten-2024-07/62809032-fortive-issues-q3-outlook-lifts-fy24-earnings-forecast-cuts-revenue-view-020.htm

Amended: Fortive Q2 Profit Down, But Beats Estimates

WASHINGTON (dpa-AFX) - (Amended: Corrects and changes last year''s revenue to ''billion'')Fortive Corporation (FTV) released a profit for second quarter that decreased from last year but beat the Str…

https://www.finanznachrichten.de/nachrichten-2024-07/62808888-amended-fortive-q2-profit-down-but-beats-estimates-020.htm

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Fortive Corporation Price History

25.09.2023 - FTV Stock was down 8.0%

• The bearish movement in FTV's stock today could be attributed to several factors:
• 1. Earnings Miss: The news articles mention that Fortive's Q3 earnings were in line with estimates but missed revenue expectations. This could have disappointed investors and led to a sell-off of the stock.
• 2. Acquisition Announcement: While not directly related to FTV's bearish movement today, the news of Fortive's acquisition of Germany's EA Elektro-Automatik for $1.45B could have raised concerns among investors. Acquisitions can sometimes be viewed as risky, and uncertainty surrounding the integration process may have contributed to the bearish sentiment.
• 3. Market Sentiment: The overall market sentiment and broader economic factors could also be influencing FTV's stock movement. If there is a general downturn in the market or concerns about the global economy, investors may be more cautious and sell off stocks like FTV.
• 4. Lack of Exciting News: The news articles provided do not highlight any significant positive developments or catalysts for FTV's stock. Without any exciting news to drive investor interest, the stock may have experienced a decline in demand.
• Overall, the bearish movement in FTV's stock today could be a result of earnings disappointment, concerns about an acquisition, broader market sentiment, and a lack of positive news.

18.07.2023 - FTV Stock was down 3.9%

• The bearish movement in FTV stock today could be attributed to the following factors:
• 1. Dividend Announcement: The declaration of a regular quarterly cash dividend of $0.07 per share may have disappointed investors who were expecting a higher payout. This could have led to selling pressure on the stock.
• 2. Short Interest: The decrease in short interest indicates that fewer traders are betting against FTV stock. However, it is worth noting that there are still 4.61 million shares sold short, which could have contributed to the downward pressure on the stock price.
• 3. Overall Market Sentiment: The broader market sentiment, such as economic indicators or geopolitical events, could have influenced the bearish movement in FTV stock. If there was a negative sentiment prevailing in the market, it could have impacted investor confidence in Fortive Corporation and led to a decline in the stock price.

24.06.2024 - FTV Stock was down 7.2%

• Fortive's stock experienced a bearish movement despite beating EPS estimates, attributed to the revenue falling short of expectations.
• The company's tightened full-year forecasts and the cut in revenue view for the next quarter might have contributed to the negative market sentiment.
• Investors may have reacted negatively to the decline in revenue for Precision Technologies segment, despite growth in other segments like Intelligent Operating Solutions and Advanced Healthcare Solutions.
• The market reaction could also be influenced by the company's adjusted operating margin improvement and the increase in fiscal 2024 earnings forecast, signaling a mixed bag of results leading to the bearish movement.

24.06.2024 - FTV Stock was down 5.5%

• Fortive issued a mixed outlook for Q3, with a raised FY24 earnings forecast but a cut in revenue view, which may have caused uncertainty among investors.
• Despite beating profit estimates in Q2, the company reported a decrease in profit compared to last year, potentially disappointing some shareholders.
• The market may have reacted negatively to the revenue cut in the Q3 outlook, overshadowing the positive aspects of the increased earnings forecast and strong Q2 results.
• Investors might be concerned about the company's ability to navigate market challenges despite showing margin expansion and solid cash flow in the recent quarter.