Q1 2023 EPS Estimates for Pentair plc (NYSE:PNR) Reduced by Analyst

Posted by Defense World Staff on Apr 27th, 2023

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Pentair plc (NYSE:PNR – Get Rating) – Analysts at Oppenheimer dropped their Q1 2023 earnings per share (EPS) estimates for Pentair in a research note issued to investors on Sunday, April 23rd. Oppenheimer analyst B. Blair now expects that the industrial products company will post earnings of $0.78 per share for the quarter, down from their previous forecast of $0.79. Oppenheimer currently has a “Outperform” rating and a $67.00 target price on the stock. The consensus estimate for Pentair’s current full-year earnings is $3.55 per share. Oppenheimer also issued estimates for Pentair’s Q3 2023 earnings at $0.95 EPS and Q4 2023 earnings at $0.92 EPS.

Several other equities research analysts also recently issued reports on the company. Citigroup upped their price target on Pentair from $54.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 1st. Loop Capital upped their price target on Pentair from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Stifel Nicolaus upped their price target on Pentair from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, January 20th. Barclays increased their price objective on Pentair from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, February 1st. Finally, Mizuho increased their price objective on Pentair from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pentair presently has an average rating of “Hold” and a consensus price target of $60.31.

Pentair Trading Down 1.7 %

Shares of Pentair stock opened at $52.42 on Wednesday. The stock has a fifty day simple moving average of $53.77 and a 200 day simple moving average of $49.10. Pentair has a 12-month low of $38.55 and a 12-month high of $60.85. The company has a market capitalization of $8.65 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12. The company has a current ratio of 1.47, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86.

Pentair (NYSE:PNR – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.03. Pentair had a return on equity of 23.40% and a net margin of 11.67%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $993.68 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. Pentair’s revenue was up 1.4% compared to the same quarter last year.

Hedge Funds Weigh In On Pentair

Several institutional investors have recently modified their holdings of PNR. Eisler Capital UK Ltd. bought a new position in shares of Pentair during the 3rd quarter valued at about $27,000. AdvisorNet Financial Inc grew its position in Pentair by 68.6% during the 4th quarter. AdvisorNet Financial Inc now owns 590 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 240 shares during the last quarter. TCI Wealth Advisors Inc. grew its position in Pentair by 162.0% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 752 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 465 shares during the last quarter. Wipfli Financial Advisors LLC bought a new position in Pentair during the 3rd quarter worth approximately $45,000. Finally, Ancora Advisors LLC bought a new position in Pentair during the 1st quarter worth approximately $56,000. 90.74% of the stock is currently owned by institutional investors.

Pentair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 5th. Shareholders of record on Friday, April 21st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, April 20th. This represents a $0.88 annualized dividend and a dividend yield of 1.68%. Pentair’s payout ratio is currently 30.45%.

Pentair Company Profile

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Pentair plc engages in the provision of water solutions for residential, commercial, industrial, infrastructure, and agriculture applications. Its portfolio of solutions enables people, businesses, and industries to access clean, safe water, reduce water consumption, and recover and reuse it. The firm operates through the following business segments: Consumer Solutions and Industrial & Flow Technologies.