Pentair PLC (NYSE:PNR) Expected to Post Quarterly Sales of $719.69 Million

Brokerages predict that Pentair PLC (NYSE:PNR) will post $719.69 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Pentair’s earnings. The lowest sales estimate is $717.00 million and the highest is $721.90 million. Pentair posted sales of $711.40 million in the same quarter last year, which suggests a positive year over year growth rate of 1.2%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, October 22nd.

On average, analysts expect that Pentair will report full-year sales of $2.98 billion for the current year, with estimates ranging from $2.97 billion to $2.99 billion. For the next year, analysts anticipate that the company will report sales of $3.10 billion, with estimates ranging from $3.07 billion to $3.12 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Pentair.

Pentair (NYSE:PNR) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. Pentair had a net margin of 12.54% and a return on equity of 21.15%. The company had revenue of $799.50 million for the quarter, compared to analyst estimates of $790.62 million. During the same period in the prior year, the company posted $0.71 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis.

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Pentair from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. ValuEngine raised shares of Pentair from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $45.17.

Large investors have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Pentair by 19.2% during the second quarter. BlackRock Inc. now owns 16,039,343 shares of the industrial products company’s stock worth $596,665,000 after purchasing an additional 2,582,896 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in shares of Pentair by 23.7% during the second quarter. Vestmark Advisory Solutions Inc. now owns 6,571 shares of the industrial products company’s stock worth $244,000 after purchasing an additional 1,260 shares during the last quarter. Tortoise Index Solutions LLC raised its holdings in shares of Pentair by 23.2% during the second quarter. Tortoise Index Solutions LLC now owns 5,021 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 945 shares during the last quarter. UBS Group AG raised its holdings in shares of Pentair by 17.3% during the second quarter. UBS Group AG now owns 354,494 shares of the industrial products company’s stock worth $13,187,000 after purchasing an additional 52,187 shares during the last quarter. Finally, HM Payson & Co. purchased a new position in shares of Pentair during the second quarter worth $28,000. 86.48% of the stock is currently owned by institutional investors and hedge funds.

Pentair stock traded down $0.89 during midday trading on Tuesday, reaching $35.47. The stock had a trading volume of 18,874 shares, compared to its average volume of 1,567,018. The company has a quick ratio of 0.91, a current ratio of 1.47 and a debt-to-equity ratio of 0.67. Pentair has a 52-week low of $34.72 and a 52-week high of $45.99. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 2.99 and a beta of 1.18. The company has a fifty day moving average of $37.52 and a 200 day moving average of $39.11.

About Pentair

Pentair plc provides various smart water solutions worldwide. It operates through three segments: Aquatic Systems, Filtration Solutions, and Flow Technologies. The Aquatic Systems segment manufactures and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, pool repair, renovation, service and construction, and aquaculture solution applications.

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