Pentair (NYSE:PNR) Issues FY 2024 Earnings Guidance

Pentair (NYSE:PNR) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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 Stock Performance

Shares of Pentair stock opened at $98.36 on Tuesday. The company has a 50 day moving average price of $91.67 and a 200 day moving average price of $84.53. The firm has a market capitalization of $16.33 billion, a P/E ratio of 26.16, a PEG ratio of 1.77 and a beta of 1.20. The company has a quick ratio of 0.96, a current ratio of 1.65 and a debt-to-equity ratio of 0.51. Pentair has a 52 week low of $57.18 and a 52 week high of $99.95.

Pentair (NYSE:PNR) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.08. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. Sell-side analysts expect that Pentair will post 4.26 EPS for the current year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a $0.23 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.92 annualized dividend and a yield of 0.94%. Pentair’s dividend payout ratio is presently 24.47%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PNR. Deutsche Bank Aktiengesellschaft increased their price target on shares of Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their price target on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Stifel Nicolaus upped 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. Northcoast Research lowered shares of Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, Mizuho upped their price target on shares of Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.93.

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.