Pool (NASDAQ:POOL) Posts Earnings Results, Beats Estimates By $0.08 EPS

Pool (NASDAQ:POOL) released its quarterly earnings results on Thursday. The specialty retailer reported $4.98 earnings per share for the quarter, topping the consensus estimate of $4.90 by $0.08, RTT News reports. Pool had a net margin of 9.17% and a return on equity of 35.49%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the company earned $5.89 earnings per share. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Pool updated its FY24 guidance to $11.05-11.45 EPS.

Pool Stock Performance

Shares of Pool stock traded up $11.88 during trading hours on Friday, reaching $371.82. The company had a trading volume of 787,168 shares, compared to its average volume of 373,632. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.88 and a quick ratio of 0.56. Pool has a one year low of $293.51 and a one year high of $422.73. The firm has a market cap of $14.25 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 2.41 and a beta of 1.00. The business has a fifty day simple moving average of $336.13 and a 200 day simple moving average of $368.69.

Pool Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.29%. This is an increase from Pool’s previous quarterly dividend of $1.10. Pool’s dividend payout ratio is currently 37.56%.

Analyst Ratings Changes

A number of research analysts have issued reports on POOL shares. Stephens reduced their price objective on Pool from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Tuesday, June 25th. The Goldman Sachs Group increased their price target on shares of Pool from $365.00 to $415.00 and gave the company a “buy” rating in a research report on Friday. Loop Capital lowered their price objective on shares of Pool from $370.00 to $305.00 and set a “hold” rating on the stock in a research report on Tuesday, June 25th. Stifel Nicolaus reduced their target price on shares of Pool from $360.00 to $310.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Finally, Wells Fargo & Company lifted their price target on shares of Pool from $285.00 to $330.00 and gave the stock an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Pool currently has an average rating of “Hold” and a consensus price target of $347.22.

Pool Company Profile

Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in the United States and internationally. The company offers maintenance products, including chemicals, supplies, and pool accessories; repair and replacement parts for pool equipment, such as cleaners, filters, heaters, pumps, and lights; and building materials, such as concrete, plumbing and electrical components, functional and decorative pool surfaces, decking materials, tiles, hardscapes, and natural stones for pool installations and remodeling.