Pentair (NYSE:PNR) Updates 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.

Pentair Stock Up 0.1 %

NYSE:PNR traded up $0.10 during mid-day trading on Wednesday, hitting $78.57. 857,571 shares of the company’s stock traded hands, compared to its average volume of 1,633,274. The company has a fifty day moving average of $80.10 and a 200 day moving average of $71.68. Pentair has a twelve month low of $52.28 and a twelve month high of $85.81. The company has a market capitalization of $13.04 billion, a P/E ratio of 20.92, a P/E/G ratio of 1.51 and a beta of 1.20. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 1.65.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04. 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 analysts’ expectations of $1.01 billion. During the same period last year, the business earned $0.91 earnings per share. Pentair’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that Pentair will post 4.2 EPS for the current year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.17%. Pentair’s payout ratio is 24.53%.

Analysts Set New Price Targets

A number of research firms have commented on PNR. Bank of America upgraded Pentair from an underperform rating to a neutral rating and lifted their target price for the company from $46.00 to $76.00 in a research report on Thursday, January 11th. Mizuho upped their price objective on Pentair from $82.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, March 7th. KeyCorp upped their target price on Pentair from $82.00 to $92.00 and gave the company an overweight rating in a research report on Thursday, March 7th. StockNews.com cut Pentair from a buy rating to a hold rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus upped their target price on Pentair from $88.00 to $94.00 and gave the company a buy rating in a research report on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $89.27.

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.