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 EPS guidance of ~$1.02 for the period, compared to the consensus EPS 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 Trading Up 0.5 %

PNR stock traded up $0.46 on Thursday, hitting $98.46. 121,128 shares of the company were exchanged, compared to its average volume of 1,554,024. 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 stock has a market capitalization of $16.30 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth 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. The business’s fifty day moving average is $92.24 and its two-hundred day moving average is $84.73.

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 net margin of 16.05% and a return on equity of 20.39%. 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 previous year, the company posted $0.94 earnings per share. Pentair’s revenue was down 1.5% compared to the same quarter last year. As a group, research analysts forecast that Pentair will post 4.26 earnings per share for the current year.

Pentair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid 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 of this dividend is Friday, October 18th. Pentair’s dividend payout ratio is presently 23.29%.

Analysts Set New Price Targets

Several brokerages recently commented on PNR. TD Cowen raised their target price on Pentair from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Pentair from $106.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com downgraded shares of Pentair from a “buy” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on shares of Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Pentair has a consensus rating of “Moderate Buy” and a consensus target price of $104.80.

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.