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 Stock Up 0.3 %

PNR traded up $0.21 on Thursday, hitting $79.20. 1,774,759 shares of the company were exchanged, compared to its average volume of 1,653,251. Pentair has a twelve month low of $52.28 and a twelve month high of $85.81. The company has a market cap of $13.15 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 1.49 and a beta of 1.20. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $80.27 and a two-hundred day moving average price of $71.84.

Pentair (NYSE:PNR) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. 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 firm posted $0.91 EPS. Pentair’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts predict that Pentair will post 4.2 earnings per share for the current year.

Pentair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. Pentair’s dividend payout ratio is currently 24.47%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Mizuho upped their price objective on Pentair from $82.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, March 7th. BNP Paribas assumed 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. Barclays upped their price objective on Pentair from $92.00 to $95.00 and gave the stock an overweight rating in a research report on Wednesday. The Goldman Sachs Group reissued a neutral rating and issued a $91.00 target price on shares of Pentair in a report on Friday, March 22nd. Finally, KeyCorp boosted 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 research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $89.93.

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.