Pentair (NYSE:PNR) Releases Earnings Results, Beats Estimates By $0.02 EPS

Pentair (NYSE:PNR) issued its earnings results on Tuesday. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02, Briefing.com reports. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The business had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same period in the prior year, the firm earned $0.94 earnings per share. Pentair’s revenue was down 1.5% on a year-over-year basis.

Pentair Stock Performance

PNR stock traded up $1.39 during midday trading on Thursday, hitting $99.39. The company’s stock had a trading volume of 1,832,483 shares, compared to its average volume of 1,562,523. Pentair has a 1 year low of $57.18 and a 1 year high of $99.96. The stock has a market cap of $16.45 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.76 and a beta of 1.20. The stock’s 50-day moving average price is $92.24 and its 200 day moving average price is $84.73. The company has a quick ratio of 0.96, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.93%. Pentair’s dividend payout ratio (DPR) is currently 23.00%.

Analysts Set New Price Targets

Several analysts have recently commented on PNR shares. KeyCorp raised their target price on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday. Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. StockNews.com lowered shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Mizuho raised their price objective on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $104.80.

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.