Pentair (NYSE:PNR) Announces Earnings Results, Beats Expectations By $0.04 EPS

Pentair (NYSE:PNR) released its earnings results on Tuesday. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04, Briefing.com reports. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company earned $0.91 EPS. Pentair’s revenue for the quarter was down 1.1% on a year-over-year basis. Pentair updated its Q2 guidance to $1.15-1.17 EPS and its FY24 guidance to $4.15-4.25 EPS.

Pentair Stock Performance

PNR stock opened at $79.25 on Tuesday. The firm has a market cap of $13.16 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.50 and a beta of 1.20. The stock’s 50 day simple moving average is $80.10 and its 200 day simple moving average is $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. Pentair has a 12-month low of $52.28 and a 12-month high of $85.81.

Pentair Announces Dividend

The company 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. This represents a $0.92 annualized dividend and a yield of 1.16%. The ex-dividend date is Thursday, April 18th. Pentair’s payout ratio is currently 24.53%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. BNP Paribas started coverage on Pentair in a research report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 target price on the stock. Oppenheimer reissued an “outperform” rating and issued a $88.00 target price (up from $82.00) on shares of Pentair in a research report on Thursday, March 7th. UBS Group upped their price target 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 upgraded shares of Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Monday, April 15th. Finally, KeyCorp lifted their target price on Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and a consensus target price 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.