Pentair (NYSE:PNR) Issues Q2 Earnings Guidance

Pentair (NYSE:PNR) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $1.15-1.17 for the period, compared to the consensus EPS estimate of $1.16. Pentair also updated its FY24 guidance to $4.15-4.25 EPS.

Pentair Price Performance

PNR stock opened at $79.25 on Tuesday. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. 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 has a 52-week low of $52.28 and a 52-week high of $85.81. The business has a fifty day moving average of $80.10 and a two-hundred day moving average of $71.68.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a net margin of 15.17% and a return on equity of 20.80%. Pentair’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. As a group, research analysts anticipate that Pentair will post 4.2 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors 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 dividend on an annualized basis and a dividend yield of 1.16%. Pentair’s payout ratio is currently 24.53%.

Analysts Set New Price Targets

Several research analysts have recently commented on PNR shares. Bank of America upgraded Pentair from an underperform rating to a neutral rating and raised their price target for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Mizuho boosted their price target on shares of Pentair from $82.00 to $100.00 and gave the stock a buy rating in a research note on Thursday, March 7th. Stifel Nicolaus increased their price target on shares of Pentair from $88.00 to $94.00 and gave the stock a buy rating in a research report on Thursday, March 7th. Royal Bank of Canada lifted their price objective on shares of Pentair from $78.00 to $87.00 and gave the company an outperform rating in a report on Monday, March 4th. Finally, Oppenheimer reiterated an outperform rating and set a $88.00 target price (up from $82.00) on shares of Pentair in a report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.