Pentair (NYSE:PNR) Releases Q2 Earnings Guidance

Pentair (NYSE:PNR) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.15-1.17 for the period, compared to the consensus estimate of $1.16. Pentair also updated its FY24 guidance to $4.15-4.25 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays upped their price target on Pentair from $90.00 to $92.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. Royal Bank of Canada upped their price target on Pentair from $78.00 to $87.00 and gave the stock an outperform rating in a research note on Monday, March 4th. Mizuho increased 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 increased their price objective on Pentair from $82.00 to $92.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. Finally, BNP Paribas started coverage on Pentair in a research report on Tuesday, March 12th. They issued a neutral rating and a $86.00 price objective for the company. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Pentair has an average rating of Moderate Buy and a consensus price target of $87.47.

Pentair Price Performance

Shares of PNR traded up $0.24 during midday trading on Wednesday, reaching $78.71. The stock had a trading volume of 725,836 shares, compared to its average volume of 1,631,138. Pentair has a 52 week low of $52.28 and a 52 week high of $85.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.65 and a quick ratio of 0.94. The firm’s 50 day moving average price is $80.10 and its 200-day moving average price is $71.68. The company has a market capitalization of $13.07 billion, a P/E ratio of 21.02, a P/E/G ratio of 1.51 and a beta of 1.20.

Pentair (NYSE:PNR) last announced its earnings results 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. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a return on equity of 20.80% and a net margin of 15.17%. Pentair’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. On average, analysts forecast that Pentair will post 4.2 earnings per share for the current fiscal year.

Pentair Announces Dividend

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

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.