Pentair (NYSE:PNR) Issues FY24 Earnings Guidance

Pentair (NYSE:PNR) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $4.15-4.25 for the period, compared to the consensus EPS estimate of $4.20. The company issued revenue guidance of $4.186-4.227 billion, compared to the consensus revenue estimate of $4.23 billion. Pentair also updated its Q2 guidance to $1.15-1.17 EPS.

Analyst Ratings Changes

A number of research firms recently issued reports on PNR. UBS Group increased their target price 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. Northcoast Research raised shares of Pentair from a neutral rating to a buy rating and set a $100.00 target price for the company in a research report on Monday, April 15th. KeyCorp increased their target price on shares of Pentair from $82.00 to $92.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. Royal Bank of Canada upped their price target on Pentair from $78.00 to $87.00 and gave the stock an outperform rating in a report on Monday, March 4th. Finally, Oppenheimer upped their price target on Pentair from $88.00 to $90.00 and gave the stock an outperform rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Pentair presently has a consensus rating of Moderate Buy and a consensus price target of $87.47.

Pentair Trading Up 0.3 %

Shares of NYSE:PNR traded up $0.24 during midday trading on Wednesday, reaching $78.71. The company had a trading volume of 725,836 shares, compared to its average volume of 1,631,138. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 1.65. Pentair has a 1-year low of $52.28 and a 1-year high of $85.81. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. The company has a fifty day simple moving average of $80.10 and a two-hundred day simple moving average of $71.68.

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

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given 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 yield of 1.17%. Pentair’s payout ratio is presently 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.