Pentair, Ltd. Registered Share Stock Rating Lowered by Bank of America (PNR)
Pentair, Ltd. Registered Share (NYSE:PNR) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Thursday.
Pentair, Ltd. Registered Share (NYSE:PNR) traded down 7.93% during mid-day trading on Thursday, hitting $64.07. 7,434,102 shares of the company’s stock traded hands. Pentair, Ltd. Registered Share has a 52 week low of $59.89 and a 52 week high of $83.37. The stock has a 50-day moving average of $72.8 and a 200-day moving average of $75.95. The company has a market cap of $12.475 billion and a price-to-earnings ratio of 23.42.
Pentair, Ltd. Registered Share (NYSE:PNR) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.03 by $0.01. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the company posted $0.92 earnings per share. Pentair, Ltd. Registered Share’s revenue was down 2.7% compared to the same quarter last year. Analysts expect that Pentair, Ltd. Registered Share will post $3.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 8th. Shareholders of record on Friday, July 25th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Wednesday, July 23rd.
A number of other analysts have also recently weighed in on PNR. Analysts at Zacks reiterated a “neutral” rating on shares of Pentair, Ltd. Registered Share in a research note on Friday, June 27th. They now have a $77.00 price target on the stock. Separately, analysts at Goldman Sachs initiated coverage on shares of Pentair, Ltd. Registered Share in a research note on Friday, June 27th. They set a “neutral” rating and a $83.00 price target on the stock. Finally, analysts at Cowen and Company initiated coverage on shares of Pentair, Ltd. Registered Share in a research note on Thursday, May 15th. They set a “market perform” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Pentair, Ltd. Registered Share currently has an average rating of “Hold” and a consensus target price of $80.28.
Pentair, Inc (NYSE:PNR) is a focused diversified industrial manufacturing company.
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