Pool (NASDAQ:POOL) Updates FY24 Earnings Guidance

Pool (NASDAQ:POOL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $10.85-11.25 for the period, compared to the consensus earnings per share estimate of $11.04. Pool also updated its FY 2024 guidance to 11.060-11.460 EPS.

Pool Stock Down 3.0 %

POOL stock traded down $11.33 during mid-day trading on Friday, reaching $366.00. 296,583 shares of the company traded hands, compared to its average volume of 348,808. The stock has a market cap of $14.00 billion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 2.57 and a beta of 1.01. The company has a quick ratio of 0.88, a current ratio of 2.48 and a debt-to-equity ratio of 0.75. Pool has a fifty-two week low of $293.51 and a fifty-two week high of $422.73. The firm’s 50 day moving average price is $359.31 and its 200 day moving average price is $353.61.

Pool (NASDAQ:POOL) last released its quarterly earnings results on Thursday, October 24th. The specialty retailer reported $3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.11. Pool had a return on equity of 32.85% and a net margin of 8.58%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the business earned $3.50 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts predict that Pool will post 10.98 EPS for the current fiscal year.

Pool Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.31%. Pool’s dividend payout ratio is currently 40.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Robert W. Baird lifted their target price on shares of Pool from $377.00 to $408.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Oppenheimer lifted their target price on shares of Pool from $356.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Stifel Nicolaus lifted their price target on shares of Pool from $310.00 to $335.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Loop Capital lifted their price target on shares of Pool from $345.00 to $395.00 and gave the stock a “hold” rating in a report on Friday. Finally, Wells Fargo & Company lifted their price target on shares of Pool from $330.00 to $370.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Pool presently has a consensus rating of “Hold” and a consensus price target of $367.89.

About Pool

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.