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London-based Pentair plc (PNR) provides various water solutions, operating through Flow, Water Solutions, and Pool segments. With a market cap of $16.1 billion, Pentair delivers a comprehensive range of smart, sustainable water solutions to homes, businesses, and industries globally. It is expected to announce its Q3 earnings on Tuesday, Oct. 22.
Ahead of the event, analysts expect Pentair to report a profit of $1.07 per share, up 13.8% from $0.94 per share reported in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates over the past four quarters. Its EPS of $1.22 for the last reported quarter exceeded the consensus estimates by 6.1%.
Analysts expect Pentair’s EPS to climb 13.6% to $4.26 in fiscal 2024, up from $3.75 in 2023. In fiscal 2025, EPS is projected to increase by 13.4% annually to $4.83.
PNR stock is up 30.7% on a YTD basis, outperforming the S&P 500 Index’s ($SPX) 19.7% gains and the Industrial Select Sector SPDR Fund’s (XLI) 18.7% returns during the same time frame.
Robust demand and the company’s focus on improving margin performance have boosted PNR’s market momentum this year. The stock edged up 9% on Jul. 23 as it reported stronger-than-expected Q2 results. The company also raised its full-year 2024 adjusted EPS guidance to $4.25.
The consensus opinion on Pentair stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of the 18 analysts covering the stock, 10 recommend “Strong Buy,” one advises “Moderate Buy,” and seven suggest a “Hold” rating.
The average price target for Pentair is $95.94, indicating a 1% potential upside from the current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
