Pool (NASDAQ:POOL) Posts Earnings Results, Beats Expectations By $0.09 EPS

Pool (NASDAQ:POOL) announced its earnings results on Thursday. The specialty retailer reported $4.99 EPS for the quarter, beating analysts’ consensus estimates of $4.90 by $0.09, Briefing.com reports. Pool had a net margin of 8.58% and a return on equity of 32.85%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the company earned $5.89 earnings per share. The business’s revenue was down 4.7% compared to the same quarter last year. Pool updated its FY24 guidance to $11.05-11.45 EPS.

Pool Price Performance

POOL traded up $11.88 on Friday, hitting $371.82. 787,168 shares of the company were exchanged, compared to its average volume of 481,398. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.56 and a current ratio of 2.48. The business’s fifty day moving average is $336.23 and its 200 day moving average is $368.62. Pool has a fifty-two week low of $293.51 and a fifty-two week high of $422.73. The firm has a market capitalization of $14.25 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00.

Pool Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a dividend of $1.20 per share. This is a positive change from Pool’s previous quarterly dividend of $1.10. This represents a $4.80 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, May 15th. Pool’s dividend payout ratio is presently 37.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on POOL. Stephens reduced their target price on shares of Pool from $425.00 to $350.00 and set an “overweight” rating for the company in a report on Tuesday, June 25th. The Goldman Sachs Group increased their price target on shares of Pool from $365.00 to $415.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird increased their price target on shares of Pool from $305.00 to $377.00 and gave the stock a “neutral” rating in a report on Friday. Stifel Nicolaus cut their price target on shares of Pool from $360.00 to $310.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Finally, Loop Capital cut their price target on shares of Pool from $370.00 to $305.00 and set a “hold” rating for the company in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Pool has a consensus rating of “Hold” and an average price target of $347.22.

About Pool

Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in the United States and internationally. The company offers maintenance products, including chemicals, supplies, and pool accessories; repair and replacement parts for pool equipment, such as cleaners, filters, heaters, pumps, and lights; and building materials, such as concrete, plumbing and electrical components, functional and decorative pool surfaces, decking materials, tiles, hardscapes, and natural stones for pool installations and remodeling.