Pentair PLC. (PNR) Issues Q3 Earnings Guidance
Pentair PLC. (NYSE:PNR) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.91-0.93 for the period, compared to the Thomson Reuters consensus estimate of $0.95. Pentair PLC. also updated its FY17 guidance to ~$3.50 EPS.
Shares of Pentair PLC. (PNR) traded down 0.64% during trading on Friday, hitting $60.97. The stock had a trading volume of 720,884 shares. The company has a market cap of $11.06 billion, a PE ratio of 17.95 and a beta of 1.38. Pentair PLC. has a 12 month low of $53.80 and a 12 month high of $69.03. The stock has a 50 day moving average of $64.16 and a 200 day moving average of $63.21.
Pentair PLC. (NYSE:PNR) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.00. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Pentair PLC. had a return on equity of 13.17% and a net margin of 12.86%. Pentair PLC.’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. Equities analysts forecast that Pentair PLC. will post $3.51 EPS for the current fiscal year.
PNR has been the subject of a number of research reports. Zacks Investment Research upgraded Pentair PLC. from a hold rating to a buy rating and set a $75.00 price target for the company in a report on Monday, May 29th. Royal Bank Of Canada reiterated a buy rating and issued a $77.00 price target on shares of Pentair PLC. in a report on Tuesday, June 6th. Morgan Stanley reiterated an equal weight rating and issued a $70.00 price target (up previously from $69.00) on shares of Pentair PLC. in a report on Wednesday, July 26th. BMO Capital Markets reiterated a hold rating and issued a $61.00 price target on shares of Pentair PLC. in a report on Wednesday, April 26th. Finally, Jefferies Group LLC upped their target price on Pentair PLC. from $58.00 to $59.00 and gave the stock a hold rating in a report on Friday, April 28th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $66.86.
In other news, Chairman Randall J. Hogan sold 220,000 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $66.03, for a total transaction of $14,526,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. /Wi Jones sold 10,000 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $67.68, for a total value of $676,800.00. Following the sale, the director now owns 20,804 shares of the company’s stock, valued at approximately $1,408,014.72. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.
Pentair PLC. Company Profile
Pentair, Inc (Pentair) is a focused diversified industrial manufacturing company. The Company operates in two segments: Water & Fluid Solutions and Technical Products. Water & Fluid Solutions is providing products and systems used worldwide in the movement, storage and treatment of water. Technical Products is engaged in the global enclosures and thermal management markets, designing and manufacturing standard, modified and custom enclosures that house and protect sensitive electronics and electrical components and protect the people that use them.
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