Pentair (NYSE:PNR) Updates FY 2024 Earnings Guidance

Pentair (NYSE:PNR) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 4.270-4.270 for the period, compared to the consensus earnings per share estimate of 4.250. The company issued revenue guidance of $4.1 billion-$4.1 billion, compared to the consensus revenue estimate of $4.1 billion. Pentair also updated its FY24 guidance to ~$4.27 EPS.

Pentair Trading Up 1.4 %

Shares of NYSE:PNR opened at $99.39 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. Pentair has a 52-week low of $57.18 and a 52-week high of $99.96. The stock has a market cap of $16.45 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.76 and a beta of 1.20. The business has a 50-day moving average price of $92.53 and a 200-day moving average price of $84.83.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $993.40 million for the quarter, compared to the consensus estimate of $988.53 million. Pentair had a net margin of 16.29% and a return on equity of 20.48%. Pentair’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. Equities analysts predict that Pentair will post 4.27 EPS for the current year.

Pentair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s dividend payout ratio is currently 23.00%.

Analysts Set New Price Targets

PNR has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday. KeyCorp upped their price objective on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday. Northcoast Research lowered shares of Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Barclays increased their price target on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, StockNews.com cut shares of Pentair from a “buy” rating to a “hold” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $104.80.

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.