Pentair (NYSE:PNR) Issues Quarterly Earnings Results

Pentair (NYSE:PNR) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04, Briefing.com reports. Pentair had a return on equity of 20.80% and a net margin of 15.17%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. Pentair updated its Q2 guidance to $1.15-1.17 EPS and its FY24 guidance to $4.15-4.25 EPS.

Pentair Stock Up 0.9 %

PNR stock opened at $79.25 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 1.65. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.50 and a beta of 1.20. Pentair has a fifty-two week low of $52.28 and a fifty-two week high of $85.81. The stock has a fifty day moving average of $80.10 and a 200-day moving average of $71.68.

Pentair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.16%. Pentair’s payout ratio is 24.53%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PNR shares. BNP Paribas started coverage on Pentair in a research report on Tuesday, March 12th. They set a “neutral” rating and a $86.00 target price on the stock. Mizuho upped their target price on Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Bank of America raised Pentair from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Citigroup upped their target price on Pentair from $85.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $91.00 target price on shares of Pentair in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Pentair has an average rating of “Moderate Buy” and an average price target of $87.33.

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.