Pentair (NYSE:PNR) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Pentair (NYSE:PNR) announced its quarterly earnings data on Tuesday. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02, Briefing.com reports. 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 last year, the business posted $0.94 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis.

Pentair Trading Down 0.4 %

NYSE PNR traded down $0.42 on Wednesday, hitting $97.90. 276,160 shares of the company were exchanged, compared to its average volume of 1,554,531. 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 firm has a market capitalization of $16.20 billion, a P/E ratio of 24.89, 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 company’s 50 day moving average price is $91.94 and its 200-day moving average price is $84.63.

Pentair Dividend Announcement

The business 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 dividend payout ratio is 23.29%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PNR. Royal Bank of Canada lifted their price target on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Oppenheimer raised their price target on Pentair from $98.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday. StockNews.com upgraded Pentair from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. KeyCorp raised their target price on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Barclays upped their price target on shares of Pentair from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.27.

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.