Pentair (NYSE:PNR) Posts Earnings Results, Beats Estimates By $0.04 EPS

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

Pentair Trading Up 0.9 %

Shares of PNR stock opened at $79.25 on Tuesday. Pentair has a 12-month low of $52.28 and a 12-month 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. The company has a 50 day moving average of $80.10 and a 200-day moving average of $71.68. The firm has a market cap of $13.16 billion, a P/E ratio of 21.13, a PEG ratio of 1.50 and a beta of 1.20.

Pentair Dividend Announcement

The business also recently announced 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.53%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PNR. Stifel Nicolaus upped their target price on Pentair from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Barclays lifted their price objective on shares of Pentair from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Mizuho boosted their target price on shares of 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 shares of Pentair in a research report on Tuesday, March 12th. They issued a “neutral” rating and a $86.00 price target on the stock. Finally, UBS Group boosted their price objective on Pentair from $72.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.33.

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.