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 Analyst Weigh In

A number of analysts have commented on the company. Northcoast Research upgraded Pentair from a neutral rating to a buy rating and set a $100.00 price target for the company in a research report on Monday, April 15th. Oppenheimer restated an outperform rating and issued a $88.00 price target (up previously from $82.00) on shares of Pentair in a research report on Thursday, March 7th. Mizuho upped their price target on Pentair from $82.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, March 7th. 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 report on Monday, March 4th. Finally, Bank of America upgraded Pentair from an underperform rating to a neutral rating and increased their target price for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $87.33.

Pentair Stock Performance

NYSE PNR opened at $79.25 on Tuesday. The business has a 50 day simple moving average of $80.10 and a two-hundred day simple moving average of $71.68. The stock has a market capitalization of $13.16 billion, a PE ratio of 21.13, a P/E/G ratio of 1.50 and a beta of 1.20. Pentair has a 1-year low of $52.28 and a 1-year 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.

Pentair (NYSE:PNR) last released 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Pentair had a return on equity of 20.80% and a net margin of 15.17%. Pentair’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. On average, research analysts predict that Pentair will post 4.2 EPS for the current fiscal year.

Pentair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Friday, April 19th will be issued 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 yield of 1.16%. Pentair’s payout ratio is currently 24.53%.

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.