Pentair (NYSE:PNR) Issues Q2 Earnings Guidance

Pentair (NYSE:PNR) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $1.15-1.17 for the period, compared to the consensus EPS estimate of $1.16. Pentair also updated its FY24 guidance to $4.15-4.25 EPS.

Pentair Stock Up 0.3 %

Shares of PNR stock traded up $0.21 during midday trading on Thursday, reaching $79.20. 1,774,759 shares of the stock were exchanged, compared to its average volume of 1,653,251. Pentair has a 1 year low of $52.28 and a 1 year high of $85.81. The company’s 50 day moving average is $80.27 and its two-hundred day moving average is $71.84. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. The firm has a market cap of $13.15 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 1.49 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts predict that Pentair will post 4.2 EPS for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Pentair’s dividend payout ratio (DPR) is 24.47%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PNR shares. Mizuho upped their price target on Pentair from $82.00 to $100.00 and gave the stock a buy rating in a research note on Thursday, March 7th. Barclays upped their price target on Pentair from $92.00 to $95.00 and gave the stock an overweight rating in a research note on Wednesday. Stifel Nicolaus upped their price target on Pentair from $88.00 to $94.00 and gave the stock a buy rating in a research note on Thursday, March 7th. Northcoast Research upgraded Pentair from a neutral rating to a buy rating and set a $100.00 price target on the stock in a research note on Monday, April 15th. Finally, Bank of America upgraded Pentair from an underperform rating to a neutral rating and upped their price target for the stock from $46.00 to $76.00 in a research note on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $89.93.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.