Pentair, Ltd. Registered Share Rating Reiterated by Zacks (PNR)
Pentair, Ltd. Registered Share (NYSE:PNR)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Friday. They currently have a $67.00 price target on the stock. Zacks‘s target price indicates a potential upside of 5.26% from the company’s current price.
Zacks’ analyst wrote, “We maintain our Neutral recommendation on Pentair with a target price of $67.00. Pentair’s second-quarter 2014 adjusted earnings increased 13% year over year to $1.04 per share. Pentair lowered its adjusted earnings per share guidance to the range of $3.65-$3.70. Pentair will benefit from the improvement in the North American residential market as well as global food and beverage market, stabilization across Europe, cost synergies from last year’s merger with Tyco Flow and consistent share repurchases. However, a weak Australian economy and fluctuations in exchange rates remain concerns.. However, weakness in the infrastructure vertical, a weak Australian economy and foreign exchange headwind in Canada remain concerns.”
Shares of Pentair, Ltd. Registered Share (NYSE:PNR) opened at 63.65 on Friday. 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 $72.16 and a 200-day moving average of $75.78. The company has a market cap of $12.393 billion and a P/E ratio of 21.56.
Pentair, Ltd. Registered Share (NYSE:PNR) last released its earnings data 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 $3.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 8th. Stockholders of record on Friday, July 25th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, July 23rd.
A number of other firms have also recently commented on PNR. Analysts at Bank of America downgraded shares of Pentair, Ltd. Registered Share from a “neutral” rating to an “underperform” rating in a research note on Thursday. 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $78.97.
Pentair, Inc (NYSE:PNR) is a focused diversified industrial manufacturing company.
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