Pentair (NYSE:PNR) Updates Q2 2024 Earnings Guidance

Pentair (NYSE:PNR) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.150-1.170 for the period, compared to the consensus earnings per share 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 Price Performance

PNR traded up $0.21 on Thursday, hitting $79.20. 1,774,759 shares of the company’s stock traded hands, compared to its average volume of 1,653,251. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. Pentair has a one year low of $52.28 and a one year high of $85.81. The company’s 50 day simple moving average is $80.27 and its 200-day simple moving average is $71.84. The firm has a market cap of $13.15 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 1.49 and a beta of 1.20.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The company’s revenue was down 1.1% compared to the same quarter last year. As a group, research analysts anticipate that Pentair will post 4.2 EPS for the current year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders 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 yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s payout ratio is 24.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PNR shares. TD Cowen boosted their target price on Pentair from $80.00 to $85.00 and gave the company a buy rating in a research report on Wednesday. Mizuho increased their price target on Pentair from $82.00 to $100.00 and gave the company a buy rating in a report on Thursday, March 7th. The Goldman Sachs Group restated a neutral rating and set a $91.00 price target on shares of Pentair in a report on Friday, March 22nd. Northcoast Research upgraded Pentair from a neutral rating to a buy rating and set a $100.00 price target on the stock in a report on Monday, April 15th. Finally, Citigroup increased their price target on Pentair from $85.00 to $101.00 and gave the company a buy rating in a report on Monday, April 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $89.93.

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.