Pool (NASDAQ:POOL) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Pool (NASDAQ:POOL) issued its earnings results on Thursday. The specialty retailer reported $1.85 EPS for the quarter, missing the consensus estimate of $1.87 by ($0.02), Briefing.com reports. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. Pool had a net margin of 9.44% and a return on equity of 37.94%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 earnings per share. Pool updated its FY 2024 guidance to 13.000-14.000 EPS and its FY24 guidance to $13.19-14.19 EPS.

Pool Stock Performance

Shares of NASDAQ POOL traded up $1.17 during midday trading on Friday, reaching $371.17. The company’s stock had a trading volume of 437,342 shares, compared to its average volume of 332,308. Pool has a 12-month low of $307.77 and a 12-month high of $422.73. The firm has a 50 day moving average price of $393.10 and a 200-day moving average price of $373.55. The stock has a market capitalization of $14.29 billion, a P/E ratio of 27.94, a PEG ratio of 3.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.36 and a quick ratio of 0.58.

Pool Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.19%. Pool’s payout ratio is presently 33.03%.

Insider Transactions at Pool

In other news, General Counsel Jennifer M. Neil sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $401.00, for a total value of $441,100.00. Following the transaction, the general counsel now owns 8,622 shares in the company, valued at approximately $3,457,422. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TheStreet downgraded Pool from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Oppenheimer lifted their price target on Pool from $407.00 to $436.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Loop Capital downgraded Pool from a “buy” rating to a “hold” rating and lifted their price target for the company from $380.00 to $415.00 in a research note on Monday, January 8th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $370.00 price target on shares of Pool in a research note on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $397.80.

About Pool

Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in the United States and internationally. The company offers maintenance products, including chemicals, supplies, and pool accessories; repair and replacement parts for pool equipment, such as cleaners, filters, heaters, pumps, and lights; and building materials, such as concrete, plumbing and electrical components, functional and decorative pool surfaces, decking materials, tiles, hardscapes, and natural stones for pool installations and remodeling.