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 Q4 2024 guidance to 1.020-1.020 EPS.

Pentair Stock Performance

Shares of PNR opened at $98.36 on Tuesday. Pentair has a 12 month low of $57.18 and a 12 month high of $99.95. The firm has a fifty day simple moving average of $91.67 and a 200 day simple moving average of $84.53. The stock has a market capitalization of $16.33 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.77 and a beta of 1.20. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51.

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

Pentair Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PNR shares. Barclays lifted their price objective on shares of Pentair from $96.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Mizuho lifted their price objective on shares of Pentair from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Royal Bank of Canada lifted their target price on shares of Pentair from $99.00 to $101.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Northcoast Research downgraded shares of Pentair from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Pentair presently has a consensus 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.