Pentair (NYSE:PNR) Releases FY24 Earnings Guidance

Pentair (NYSE:PNR) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $4.15-4.25 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com cut Pentair from a buy rating to a hold rating in a research report on Friday, February 2nd. The Goldman Sachs Group reiterated a neutral rating and issued a $91.00 target price on shares of Pentair in a research report on Friday, March 22nd. UBS Group lifted their target price on Pentair from $72.00 to $83.00 and gave the company a buy rating in a research report on Wednesday, January 10th. Bank of America upgraded Pentair from an underperform rating to a neutral rating and boosted their price target for the stock from $46.00 to $76.00 in a report on Thursday, January 11th. Finally, Mizuho boosted their price target on Pentair from $82.00 to $100.00 and gave the stock a buy 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, the company has an average rating of Moderate Buy and a consensus price target of $87.33.

Pentair Trading Up 2.4 %

Shares of Pentair stock traded up $1.94 during midday trading on Tuesday, reaching $81.14. The company had a trading volume of 682,100 shares, compared to its average volume of 1,593,526. The stock has a fifty day moving average price of $80.10 and a 200 day moving average price of $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. The firm has a market cap of $13.47 billion, a PE ratio of 21.46, a P/E/G ratio of 1.50 and a beta of 1.20. Pentair has a fifty-two week low of $52.28 and a fifty-two week high of $85.81.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 EPS 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts anticipate that Pentair will post 4.2 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s dividend payout ratio (DPR) 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.