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.

Pentair Stock Up 0.3 %

Pentair stock traded up $0.24 during mid-day trading on Wednesday, reaching $78.71. The stock 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 fifty-two week low of $52.28 and a fifty-two week high of $85.81. The stock’s 50-day simple moving average is $80.10 and its 200-day simple moving average is $71.68. The firm has a market capitalization of $13.07 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its 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. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. On average, sell-side analysts forecast that Pentair will post 4.2 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.53%.

Analyst Ratings Changes

PNR has been the subject of several recent research reports. StockNews.com cut Pentair from a buy rating to a hold rating in a research report on Friday, February 2nd. Barclays boosted their target price on Pentair from $90.00 to $92.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Bank of America upgraded Pentair from an underperform rating to a neutral rating and boosted their target price for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Stifel Nicolaus boosted their target price on Pentair from $88.00 to $94.00 and gave the stock a buy rating in a research report on Thursday, March 7th. Finally, 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. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $87.47.

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.