Pentair (NYSE:PNR) Updates FY 2024 Earnings Guidance

by · The Markets Daily

Pentair (NYSE:PNR – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 4.270-4.270 for the period, compared to the consensus EPS estimate of 4.250. The company issued revenue guidance of $4.1 billion-$4.1 billion, compared to the consensus revenue estimate of $4.1 billion. Pentair also updated its FY24 guidance to ~$4.27 EPS.

Pentair Trading Down 0.7 %

Shares of PNR stock opened at $98.36 on Tuesday. The company has a market cap of $16.33 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 1.77 and a beta of 1.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $91.67 and its two-hundred day simple moving average is $84.53. Pentair has a 1 year low of $57.18 and a 1 year high of $99.95.

Pentair (NYSE:PNR – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $1.03 earnings per share. Pentair’s revenue was up 1.6% on a year-over-year basis. Research analysts predict that Pentair will post 4.26 earnings per share for the current year.

Pentair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.94%. Pentair’s dividend payout ratio is presently 24.47%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Oppenheimer increased their price target on Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Mizuho increased their target price on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.93.

Check Out Our Latest Analysis on Pentair

Pentair Company Profile

(Get Free Report)

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.

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