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.

Analyst Ratings Changes

Several research firms have recently weighed in on PNR. KeyCorp lifted their target price on shares of Pentair from $82.00 to $92.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. Stifel Nicolaus boosted their price objective on shares of Pentair from $88.00 to $94.00 and gave the company a buy rating in a research report on Thursday, March 7th. The Goldman Sachs Group reaffirmed a neutral rating and set a $91.00 price objective on shares of Pentair in a research report on Friday, March 22nd. Northcoast Research raised shares of Pentair from a neutral rating to a buy rating and set a $100.00 price objective on the stock in a research report on Monday, April 15th. Finally, BNP Paribas initiated coverage on shares of Pentair in a research report on Tuesday, March 12th. They set a neutral rating and a $86.00 price objective on the stock. 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 data from MarketBeat, Pentair currently has an average rating of Moderate Buy and a consensus target price of $87.33.

Pentair Stock Up 2.4 %

NYSE PNR traded up $1.94 during trading on Tuesday, reaching $81.14. The company’s stock had a trading volume of 682,100 shares, compared to its average volume of 1,593,526. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $13.47 billion, a PE ratio of 21.46, a PEG ratio of 1.50 and a beta of 1.20. The business has a 50-day moving average price of $80.10 and a 200-day moving average price of $71.68. Pentair has a 1-year low of $52.28 and a 1-year high of $85.81.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The business 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 company earned $0.91 earnings per share. Pentair’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, research analysts forecast that Pentair will post 4.2 earnings per share for the current fiscal year.

Pentair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Thursday, April 18th. Pentair’s payout ratio is 24.53%.

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.