Pentair (NYSE:PNR) Releases Q2 2024 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PNR. KeyCorp upped their price objective on shares of Pentair from $82.00 to $92.00 and gave the stock an overweight rating in a research note on Thursday, March 7th. Mizuho upped their price objective 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. The Goldman Sachs Group reaffirmed a neutral rating and issued a $91.00 price objective on shares of Pentair in a research note on Friday, March 22nd. StockNews.com lowered shares of Pentair from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, Northcoast Research raised shares of Pentair from a neutral rating to a buy rating and set a $100.00 price target for the company in a research report on Monday, April 15th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Pentair currently has a consensus rating of Moderate Buy and a consensus target price of $87.33.

Pentair Price Performance

Shares of NYSE:PNR opened at $82.25 on Tuesday. Pentair has a twelve month low of $52.28 and a twelve month high of $85.81. The company’s 50 day moving average is $80.10 and its 200 day moving average is $71.68. 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 company has a market cap of $13.66 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20.

Pentair (NYSE:PNR) last issued its quarterly 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 net margin of 15.17% and a return on equity of 20.80%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company earned $0.91 EPS. Pentair’s quarterly revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Pentair will post 4.2 EPS for the current year.

Pentair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 annualized dividend and a yield of 1.12%. Pentair’s dividend payout ratio (DPR) is presently 24.53%.

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.