Pentair Ltd. (PNR) Updates FY13 Earnings Guidance
Pentair Ltd. (NYSE:PNR) issued an update on its FY13 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.19-3.21 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.21, StockRatingsNetwork.com reports. The company issued revenue guidance of approx $7.4 billion, compared to the consensus revenue estimate of $7.47 billion.Pentair also updated its Q4 guidance to $0.83-0.85 EPS.
A number of research firms have recently commented on PNR. Analysts at Merrill Lynch initiated coverage on shares of Pentair in a research note to investors on Wednesday, October 16th. They set a buy rating on the stock. On a related note, analysts at Bank of America Corp. initiated coverage on shares of Pentair in a research note to investors on Wednesday, October 16th. They set a buy rating and a $78.00 price target on the stock. Finally, analysts at Sanford C. Bernstein reiterated a buy rating on shares of Pentair in a research note to investors on Monday, October 14th. They now have a $77.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $66.55.
Pentair Ltd. (NYSE:PNR) opened at 65.70 on Tuesday. Pentair Ltd. has a one year low of $40.30 and a one year high of $66.60. The stock has a 50-day moving average of $64.65 and a 200-day moving average of $59.76. The company’s market cap is $13.084 billion.
Pentair (NYSE:PNR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.86 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.86. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.90 million. During the same quarter last year, the company posted $0.64 earnings per share. Pentair’s revenue was up 110.8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 8th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.52%.
Pentair, Inc (NYSE:PNR) is a focused diversified industrial manufacturing company.
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