Pentair (NYSE:PNR) Issues FY24 Earnings Guidance

Pentair (NYSE:PNR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ~$4.27 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Stifel Nicolaus increased their price target on Pentair from $101.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Northcoast Research downgraded shares of Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. KeyCorp raised their price target on Pentair from $97.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Mizuho lifted their price objective on Pentair from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Barclays increased their target price on Pentair from $96.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.93.

Pentair Trading Down 0.7 %

Shares of Pentair stock opened at $98.36 on Tuesday. Pentair has a 52-week low of $57.18 and a 52-week high of $99.95. The firm has a market capitalization 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 company’s fifty day moving average price is $91.67 and its two-hundred day moving average price is $84.53.

Pentair (NYSE:PNR) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The firm’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 earnings per share. On average, analysts expect that Pentair will post 4.26 EPS for the current year.

Pentair Announces Dividend

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

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.