Pentair (NYSE:PNR) Issues FY24 Earnings Guidance

Pentair (NYSE:PNR) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of ~$4.27 for the period, compared to the consensus EPS estimate of $4.25. The company issued revenue guidance of flat to down 1% yr/yr to $4.08-4.09 billion, compared to the consensus revenue estimate of $4.09 billion. Pentair also updated its FY 2024 guidance to 4.270-4.270 EPS.

Pentair Trading Up 0.5 %

Shares of Pentair stock traded up $0.46 during mid-day trading on Thursday, hitting $98.46. The stock had a trading volume of 121,128 shares, compared to its average volume of 1,554,024. The firm has a 50-day moving average of $92.24 and a two-hundred day moving average of $84.73. Pentair has a 12-month low of $57.18 and a 12-month high of $99.96. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. The firm has a market cap of $16.30 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 1.78 and a beta of 1.20.

Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $993.40 million for the quarter, compared to analyst estimates of $988.53 million. During the same quarter last year, the company earned $0.94 EPS. Pentair’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts forecast that Pentair will post 4.26 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. Pentair’s dividend payout ratio is currently 23.29%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PNR. Royal Bank of Canada increased their price target on shares of Pentair from $101.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Mizuho boosted their price objective on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and a consensus target price 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.