Pentair (NYSE:PNR) Releases FY24 Earnings Guidance

Pentair (NYSE:PNR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ~$4.27 for the period, compared to the consensus estimate of $4.25. The company issued revenue guidance of flat to down 1% yr/yr to $4.08-4.09 billion, compared to the consensus revenue estimate of $4.09 billion. Pentair also updated its FY 2024 guidance to 4.270-4.270 EPS.

Pentair Stock Down 0.7 %

Shares of PNR opened at $98.36 on Tuesday. The company has a market capitalization of $16.33 billion, a P/E ratio of 26.16, a PEG ratio of 1.77 and a beta of 1.20. Pentair has a one year low of $57.18 and a one year high of $99.95. The business’s 50 day simple moving average is $91.67 and its 200-day simple moving average is $84.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Pentair will post 4.26 EPS for the current fiscal year.

Pentair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.94%. Pentair’s dividend payout ratio (DPR) is 24.47%.

Wall Street Analyst Weigh In

PNR has been the subject of a number of research analyst reports. StockNews.com raised shares of Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their target price on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Oppenheimer raised their price target on Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group boosted their price objective on Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.93.

About Pentair

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.