Pentair (NYSE:PNR) Releases 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.

Pentair Price Performance

PNR traded up $0.10 during trading on Wednesday, reaching $78.57. 857,571 shares of the company traded hands, compared to its average volume of 1,633,274. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 1.65. Pentair has a 12-month low of $52.28 and a 12-month high of $85.81. The firm has a fifty day simple moving average of $80.10 and a 200 day simple moving average of $71.68. The company has a market cap of $13.04 billion, a P/E ratio of 20.92, a PEG ratio of 1.51 and a beta of 1.20.

Pentair (NYSE:PNR) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.17% and a return on equity of 20.80%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $0.91 EPS. The company’s revenue was down 1.1% on a year-over-year basis. On average, equities analysts forecast that Pentair will post 4.2 EPS for the current year.

Pentair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders 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 dividend yield of 1.17%. Pentair’s dividend payout ratio is currently 24.53%.

Analyst Upgrades and Downgrades

PNR has been the subject of a number of analyst reports. The Goldman Sachs Group restated a neutral rating and issued a $91.00 price target on shares of Pentair in a research report on Friday, March 22nd. Mizuho raised 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. Bank of America upgraded Pentair from an underperform rating to a neutral rating and raised their price target for the stock from $46.00 to $76.00 in a research report on Thursday, January 11th. UBS Group lifted their target price on Pentair from $83.00 to $91.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Oppenheimer lifted their target price on Pentair from $88.00 to $90.00 and gave the stock an outperform rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $89.27.

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.