Pentair (NYSE:PNR) Issues Q2 2024 Earnings Guidance

Pentair (NYSE:PNR) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.150-1.170 for the period, compared to the consensus estimate of 1.160. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Pentair also updated its FY24 guidance to $4.15-4.25 EPS.

Wall Street Analysts Forecast Growth

PNR has been the topic of several recent analyst reports. Northcoast Research upgraded Pentair from a neutral rating to a buy rating and set a $100.00 price objective on the stock in a report on Monday, April 15th. BNP Paribas assumed coverage on shares of Pentair in a research note on Tuesday, March 12th. They issued a neutral rating and a $86.00 price objective on the stock. StockNews.com cut Pentair from a buy rating to a hold rating in a research report on Friday, February 2nd. TD Cowen upped their target price on Pentair from $80.00 to $85.00 and gave the company a buy rating in a report on Wednesday. Finally, Mizuho lifted their price objective on Pentair from $82.00 to $100.00 and gave the company a buy rating in a research report on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pentair has an average rating of Moderate Buy and a consensus price target of $89.93.

Pentair Stock Up 1.7 %

PNR traded up $1.32 during trading on Friday, hitting $80.52. The company had a trading volume of 136,211 shares, compared to its average volume of 1,634,140. The company has a market capitalization of $13.37 billion, a PE ratio of 21.06, a PEG ratio of 1.50 and a beta of 1.20. The firm’s 50-day moving average price is $80.27 and its 200 day moving average price is $71.84. Pentair has a one year low of $53.88 and a one year high of $85.81. The company has a quick ratio of 0.94, a current ratio of 1.90 and a debt-to-equity ratio of 0.63.

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

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Friday, April 19th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, April 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.14%. Pentair’s payout ratio is 24.47%.

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.