Pentair (NYSE:PNR) Releases Q2 Earnings Guidance

Pentair (NYSE:PNR) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.15-1.17 for the period, compared to the consensus estimate of $1.16. Pentair also updated its FY24 guidance to $4.15-4.25 EPS.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PNR. Mizuho raised their price target on shares of Pentair from $82.00 to $100.00 and gave the company a buy rating in a report on Thursday, March 7th. Barclays lifted their target price on Pentair from $90.00 to $92.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. KeyCorp boosted their price target on Pentair from $82.00 to $92.00 and gave the stock an overweight rating in a research note on Thursday, March 7th. Bank of America upgraded Pentair from an underperform rating to a neutral rating and raised their price objective for the company from $46.00 to $76.00 in a research note on Thursday, January 11th. Finally, Citigroup lifted their price objective on Pentair from $85.00 to $101.00 and gave the stock a buy rating in a report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $87.33.

Pentair Stock Performance

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

Pentair (NYSE:PNR) last released its 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. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts predict that Pentair will post 4.2 EPS for the current year.

Pentair Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, April 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. Pentair’s dividend 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.