Pentair (NYSE:PNR) Announces Quarterly Earnings Results

Pentair (NYSE:PNR) announced its quarterly earnings results on Tuesday. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04, Briefing.com reports. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. Pentair updated its Q2 guidance to $1.15-1.17 EPS and its FY24 guidance to $4.15-4.25 EPS.

Pentair Stock Up 0.9 %

Shares of NYSE PNR opened at $79.25 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 0.62. Pentair has a 12-month low of $52.28 and a 12-month high of $85.81. The company has a market cap of $13.16 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. The firm’s 50-day simple moving average is $80.10 and its 200 day simple moving average is $71.68.

Pentair Dividend Announcement

The business 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. The ex-dividend date is Thursday, April 18th. This represents a $0.92 annualized dividend and a yield of 1.16%. Pentair’s dividend payout ratio (DPR) is 24.53%.

Analyst Ratings Changes

Several equities research analysts have recently commented on PNR shares. KeyCorp boosted their target price on shares of Pentair from $82.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. The Goldman Sachs Group restated a “neutral” rating and issued a $91.00 target price on shares of Pentair in a research note on Friday, March 22nd. Mizuho boosted their target price on shares of Pentair from $82.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Oppenheimer restated an “outperform” rating and issued a $88.00 target price (up previously from $82.00) on shares of Pentair in a research note on Thursday, March 7th. Finally, Stifel Nicolaus boosted their target price on shares of Pentair from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Pentair currently has a consensus rating of “Moderate Buy” and an average target price of $87.33.

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.