Pentair (NYSE:PNR) Updates Q4 Earnings Guidance

Pentair (NYSE:PNR) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of ~$1.02 for the period, compared to the consensus earnings per share estimate of $1.02. The company issued revenue guidance of $965-975 million, compared to the consensus revenue estimate of $989.65 million. Pentair also updated its FY 2024 guidance to 4.270-4.270 EPS.

Pentair Stock Performance

Shares of PNR stock opened at $99.39 on Friday. The business’s 50 day simple moving average is $92.53 and its 200 day simple moving average is $84.83. Pentair has a one year low of $57.18 and a one year high of $99.96. The stock has a market capitalization of $16.45 billion, a PE ratio of 24.85, a PEG ratio of 1.76 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.96.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million for the quarter, compared to analysts’ expectations of $988.53 million. During the same period in the prior year, the business posted $0.94 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. As a group, research analysts forecast that Pentair will post 4.27 earnings per share for the current year.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th 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 0.93%. The ex-dividend date is Friday, October 18th. Pentair’s payout ratio is 23.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PNR shares. Oppenheimer increased their price target on Pentair from $98.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on 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 increased their price target on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a report on Wednesday. Stifel Nicolaus increased their target price on Pentair from $101.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Northcoast Research cut Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.