Pentair (NYSE:PNR) Issues FY24 Earnings Guidance

Pentair (NYSE:PNR) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $4.15-4.25 for the period, compared to the consensus EPS estimate of $4.20. The company issued revenue guidance of $4.186-4.227 billion, compared to the consensus revenue estimate of $4.23 billion. Pentair also updated its Q2 guidance to $1.15-1.17 EPS.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BNP Paribas assumed coverage on Pentair in a research note on Tuesday, March 12th. They issued a neutral rating and a $86.00 price target for the company. UBS Group upped their target price on Pentair from $83.00 to $91.00 and gave the company a buy rating in a research report on Wednesday. The Goldman Sachs Group reiterated a neutral rating and set a $91.00 target price on shares of Pentair in a research report on Friday, March 22nd. Bank of America upgraded Pentair from an underperform rating to a neutral rating and upped their target price for the company from $46.00 to $76.00 in a research report on Thursday, January 11th. Finally, Royal Bank of Canada upped their target price on Pentair from $101.00 to $103.00 and gave the company an outperform rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Pentair presently has an average rating of Moderate Buy and an average target price of $89.93.

Pentair Stock Up 0.3 %

Shares of NYSE:PNR opened at $79.20 on Friday. The business’s 50 day simple moving average is $80.27 and its two-hundred day simple moving average is $71.84. The firm has a market cap of $13.15 billion, a P/E ratio of 21.06, a PEG ratio of 1.50 and a beta of 1.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.94 and a current ratio of 1.90. Pentair has a 52-week low of $52.28 and a 52-week high of $85.81.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a return on equity of 20.16% and a net margin of 15.30%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. As a group, research analysts forecast that Pentair will post 4.21 EPS for the current fiscal year.

Pentair Announces Dividend

The firm also recently declared 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s payout ratio is 24.47%.

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.