Pentair (NYSE:PNR) Updates Q2 2024 Earnings Guidance

Pentair (NYSE:PNR) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.150-1.170 for the period, compared to the consensus earnings per share 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.

Pentair Price Performance

PNR stock opened at $82.25 on Tuesday. The business has a 50 day moving average price of $80.10 and a 200 day moving average price of $71.68. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 21.13, a PEG 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. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.62.

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, 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 firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Pentair will post 4.2 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders 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 dividend yield of 1.12%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.53%.

Analysts Set New Price Targets

PNR has been the subject of a number of research analyst reports. Mizuho raised their price target on Pentair from $82.00 to $100.00 and gave the company a buy rating in a research report on Thursday, March 7th. Citigroup raised their price target on Pentair from $85.00 to $101.00 and gave the company a buy rating in a research report on Monday, April 8th. Oppenheimer reiterated an outperform rating and set a $88.00 price objective (up previously from $82.00) on shares of Pentair in a research report on Thursday, March 7th. Bank of America upgraded Pentair from an underperform rating to a neutral rating and lifted their price objective for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Finally, BNP Paribas initiated coverage on Pentair in a research report on Tuesday, March 12th. They set a neutral rating and a $86.00 price objective for the company. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus 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.