Pentair (NYSE:PNR) Updates Q2 2024 Earnings Guidance

Pentair (NYSE:PNR) updated its second quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.150-1.170 for the period, compared to the consensus EPS estimate of 1.160. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Pentair also updated its FY24 guidance to $4.15-4.25 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Mizuho raised their price objective on Pentair from $82.00 to $100.00 and gave the stock a buy rating in a research note on Thursday, March 7th. UBS Group raised their price objective on Pentair from $72.00 to $83.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. The Goldman Sachs Group reissued a neutral rating and set a $91.00 price objective on shares of Pentair in a research note on Friday, March 22nd. Oppenheimer reissued an outperform rating and set a $88.00 price objective (up from $82.00) on shares of Pentair in a research note on Thursday, March 7th. Finally, Bank of America raised Pentair from an underperform rating to a neutral rating and raised their target price for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $87.33.

Pentair Stock Up 0.8 %

NYSE PNR traded up $0.63 during trading on Tuesday, hitting $79.83. 1,068,362 shares of the company traded hands, compared to its average volume of 1,602,903. Pentair has a 12 month low of $52.28 and a 12 month high of $85.81. The business has a fifty day simple moving average of $80.10 and a 200 day simple moving average of $71.68. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $13.25 billion, a P/E ratio of 21.46, a PEG ratio of 1.50 and a beta of 1.20.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that Pentair will post 4.2 EPS for the current year.

Pentair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio (DPR) is presently 24.53%.

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.