|Bid||51.81 x 900|
|Ask||53.96 x 1000|
|Day's Range||51.42 - 52.24|
|52 Week Range||22.01 - 52.87|
|Beta (5Y Monthly)||1.30|
|PE Ratio (TTM)||24.74|
|Earnings Date||Oct 20, 2020|
|Forward Dividend & Yield||0.76 (1.46%)|
|Ex-Dividend Date||Oct 22, 2020|
|1y Target Est||50.65|
Pentair plc (NYSE:PNR) just released its latest quarterly results and things are looking bullish. It was a solid...
Shares of Pentair gained over 4% on Tuesday after the water treatment company raised its 2020 outlook backed by better-than-expected 3Q results.Pentair (PNR) now expects its 2020 adjusted EPS to be in the range of $2.35 to $2.40, compared with the prior guidance of $2 to $2.20. Analysts were looking for EPS of $2.22. Pentair projects 2020 sales of $2.95 billion, up from the previous guidance of $2.8 billion, surpassing the Street consensus of $2.83 billion.Meanwhile, its 3Q EPS rose 20.7% to $0.70, exceeding analysts' estimates of $0.51. Revenues increased 12% to $799 million, while analysts had expected $678.4 million.Pentair’s CEO John L. Stauch said “Our ability to deliver double digit sales and earnings growth in the quarter is a reflection of our diverse portfolio that includes a large mix of residential focused businesses that are currently experiencing strong demand.” He further believes that “there are ample organic and inorganic opportunities to build on our already strong foundation and we are in a great financial position to support our longer-term aspirations.” (See PNR stock analysis on TipRanks).On Oct. 20, Oppenheimer analyst Bryan Blair said that “Pentair's market-leading Pool business grew 46% with sustained demand strength” and drove the 3Q results. Besides sustainable Pool strength, the analyst believes “rebounding Water Solutions demand, IFT (Industrial & Flow Technologies) self-help levers, and capital deployment prospects support 2021 upside.”Currently, the Street is cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 5 Buys, 6 Holds and 1 Sell. The average price target of $50.18 implies downside potential of about 2.1% to current levels. Shares have gained by 11.7% year-to-date.Related News: Procter & Gamble Raises 2021 Outlook As 1Q Sales Surge 9% Philip Morris Slips 6% As 4Q Profit Outlook Misses Estimates Pinnacle’s Profit Beats Estimates; Street Sees 21% Upside More recent articles from Smarter Analyst: * Iberdrola’s Avangrid In $8.3B Renewable Energy Merger With PNM * Opko Health Rolls Out Multiplex COVID-19, Influenza A/B Test * Albertsons Jumps 5.6% As Online Sales Pop 243% * Teradyne Posts Strong 3Q Earnings, Upbeat Outlook
Logitech, Aptinyx, Crown Holdings, Pentair and General Motors are five top stock gainers for Tuesday.