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 NYSE PNR traded down $0.80 during trading hours on Wednesday, reaching $97.52. The stock had a trading volume of 76,462 shares, compared to its average volume of 1,554,062. The business’s fifty day moving average is $91.94 and its two-hundred day moving average is $84.63. 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 has a market cap of $16.14 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 1.78 and a beta of 1.20. Pentair has a twelve month low of $57.18 and a twelve month high of $99.96.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The firm 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 business’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts expect that Pentair will post 4.26 EPS for the current year.

Pentair Announces Dividend

The firm 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, October 18th. Pentair’s payout ratio is presently 23.29%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PNR. Barclays raised their price target on Pentair from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group increased their price objective on Pentair from $85.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price objective on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, KeyCorp upped their price objective on Pentair from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.27.

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.