Pentair (NYSE:PNR) Issues FY24 Earnings Guidance

Pentair (NYSE:PNR) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of ~$4.27 for the period, compared to the consensus earnings per share estimate of $4.25. The company issued revenue guidance of flat to down 1% yr/yr to $4.08-4.09 billion, compared to the consensus revenue estimate of $4.09 billion. Pentair also updated its FY 2024 guidance to 4.270-4.270 EPS.

Pentair Stock Performance

Shares of NYSE PNR traded up $0.46 during mid-day trading on Thursday, hitting $98.46. The company had a trading volume of 121,128 shares, compared to its average volume of 1,554,024. Pentair has a 12 month low of $57.18 and a 12 month high of $99.96. The firm has a market cap of $16.30 billion, a P/E ratio of 24.81, a PEG ratio of 1.78 and a beta of 1.20. The business’s 50-day simple moving average is $92.24 and its 200-day simple moving average is $84.73. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96.

Pentair (NYSE:PNR) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a return on equity of 20.39% and a net margin of 16.05%. Pentair’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business earned $0.94 earnings per share. As a group, analysts predict that Pentair will post 4.26 earnings per share for the current fiscal year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.23 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. Pentair’s dividend payout ratio is currently 23.29%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Stifel Nicolaus upped their price target on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays upped their target price on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada lifted their price target on shares of Pentair from $101.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday. Mizuho upped their price objective on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, KeyCorp lifted their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Pentair presently has a consensus rating of “Moderate Buy” and an average target price of $104.80.

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.