Pentair (NYSE:PNR) Issues FY24 Earnings Guidance

Pentair (NYSE:PNR) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $4.15-4.25 for the period, compared to the consensus EPS estimate of $4.20. The company issued revenue guidance of $4.186-4.227 billion, compared to the consensus revenue estimate of $4.23 billion. Pentair also updated its Q2 guidance to $1.15-1.17 EPS.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup increased their target price on Pentair from $85.00 to $101.00 and gave the company a buy rating in a report on Monday, April 8th. StockNews.com lowered Pentair from a buy rating to a hold rating in a report on Friday, February 2nd. Royal Bank of Canada increased their target price on Pentair from $78.00 to $87.00 and gave the company an outperform rating in a report on Monday, March 4th. Bank of America raised Pentair from an underperform rating to a neutral rating and raised their price objective for the stock from $46.00 to $76.00 in a report on Thursday, January 11th. Finally, Mizuho raised their price objective on Pentair from $82.00 to $100.00 and gave the stock a buy rating in a report on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $87.33.

Pentair Stock Performance

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 52-week low of $52.28 and a 52-week high of $85.81. The business’s 50-day moving average price is $80.10 and its 200 day moving average price is $71.68. 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.

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

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 issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, April 18th. Pentair’s dividend payout ratio is currently 24.53%.

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.