Pentair (NYSE:PNR) Updates Q2 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PNR. Oppenheimer reaffirmed an outperform rating and set a $88.00 price objective (up from $82.00) on shares of Pentair in a research report on Thursday, March 7th. UBS Group lifted their price objective on shares of Pentair from $72.00 to $83.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Stifel Nicolaus lifted their price objective on shares of Pentair from $88.00 to $94.00 and gave the stock a buy rating in a research report on Thursday, March 7th. StockNews.com lowered shares of Pentair from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada lifted their price target on shares of Pentair from $78.00 to $87.00 and gave the stock an outperform rating in a research note on Monday, March 4th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $87.33.

Pentair Stock Performance

NYSE PNR traded up $1.94 during trading on Tuesday, reaching $81.14. The company’s stock had a trading volume of 682,100 shares, compared to its average volume of 1,593,526. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 1.65. The firm has a market cap of $13.47 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.50 and a beta of 1.20. Pentair has a twelve month low of $52.28 and a twelve month high of $85.81. The business’s fifty day moving average price is $80.10 and its 200-day moving average price is $71.68.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.91 earnings per share. Pentair’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, analysts anticipate that Pentair will post 4.2 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.13%. Pentair’s dividend payout ratio (DPR) is 24.53%.

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.