Earnings stock to watch: Fortive Corp (NYSE: FTV)

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Fortive Corp (NYSE: FTV) posted better than expected results for the fourth quarter of FY 19. The company is moving toward the completion of the separation of Vontier, after it had announced its key members of the senior management team, launching the brand, and making progress against other significant milestones over the past few months. The company has generated the free cash flow of over $450M in the quarter, which reflects a 17% year-over-year increase and a conversion ratio of more than 120% of adjusted net income. For the fourth quarter ended December 31, 2019, net earnings from continuing operations attributable to common stockholders were $161.6 million. The company has closed on China before the end of the fourth quarter, successfully integrated the largest of the day 2 countries and accomplished a key milestone as the company bring ASP’s global operations under the full control.

FTV in the fourth quarter of FY 19 has reported the adjusted earnings per share of $1.03, beating the analysts’ estimates for the adjusted earnings per share of 98 cents, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 13.9 percent to $2 billion in the fourth quarter of FY 19, beating the analysts’ estimates for revenue of $1.98 billion. The company posted the core revenue growth of 0.4%.

Additionally, the company has declared a regular quarterly cash dividend of $0.07 per share of its common stock, par value $0.01 per share, which will be payable on March 27, 2020 to common stockholders of record on February 28, 2020. In addition, the company declared a regular quarterly cash dividend of $12.50 per share of its 5.00% Mandatory Convertible Preferred Stock, Series A, par value $0.01 per share, which will be payable on April 1, 2020 to preferred stockholders of record on March 15, 2020.

For the first quarter of 2020, Fortive expects diluted net earnings per share from continuing operations to be in the range of $0.24 to $0.28. Fortive expects adjusted diluted net earnings per share from continuing operations to be in the range of $0.70 to $0.74. For the full year 2020, Fortive expects diluted net earnings per share from continuing operations to be in the range of $2.16 to $2.26. For the full year 2020, Fortive expects adjusted diluted net earnings per share from continuing operations to be in the range of $3.68 to $3.78.

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