Pentair (NYSE:PNR) Issues Quarterly Earnings Results

Pentair (NYSE:PNR) issued its earnings results on Tuesday. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02, Briefing.com reports. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million during the quarter, compared to analyst estimates of $988.53 million. During the same quarter last year, the business earned $0.94 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis.

Pentair Price Performance

NYSE PNR traded up $1.39 during trading hours on Thursday, reaching $99.39. 1,832,483 shares of the stock traded hands, compared to its average volume of 1,562,523. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.96. The stock has a 50 day simple moving average of $92.24 and a two-hundred day simple moving average of $84.73. Pentair has a 1 year low of $57.18 and a 1 year high of $99.96. The company has a market cap of $16.45 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 1.76 and a beta of 1.20.

Pentair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a $0.23 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.93%. Pentair’s dividend payout ratio (DPR) is presently 23.00%.

Wall Street Analyst Weigh In

Several research firms recently commented on PNR. TD Cowen raised their price objective on shares of Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group lifted their price target on Pentair from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus increased their price objective on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their target price on Pentair from $106.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Northcoast Research downgraded shares of Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.80.

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.