Pentair (NYSE:PNR) Releases Q2 Earnings Guidance

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

Pentair Price Performance

Shares of PNR stock traded up $1.94 during trading hours on Tuesday, hitting $81.14. The stock had a trading volume of 682,100 shares, compared to its average volume of 1,593,526. The stock’s 50-day moving average price is $80.10 and its two-hundred day moving average price is $71.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.65 and a quick ratio of 0.94. Pentair has a one year low of $52.28 and a one year high of $85.81. The stock has a market capitalization of $13.47 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.50 and a beta of 1.20.

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

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders 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 annualized dividend and a yield of 1.13%. Pentair’s payout ratio is currently 24.53%.

Analyst Ratings Changes

PNR has been the subject of several recent analyst reports. The Goldman Sachs Group restated a neutral rating and set a $91.00 target price on shares of Pentair in a research report on Friday, March 22nd. StockNews.com lowered Pentair from a buy rating to a hold rating in a research report on Friday, February 2nd. Citigroup boosted their target price on Pentair from $85.00 to $101.00 and gave the company a buy rating in a research report on Monday, April 8th. BNP Paribas initiated coverage on Pentair in a research report on Tuesday, March 12th. They set a neutral rating and a $86.00 target price for the company. Finally, Barclays boosted their target price on Pentair from $90.00 to $92.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $87.33.

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.