NEW YORK (TheStreet) -- Pentair
(PNR - Get Report) shares are down -7% to $64.67 on Thursday after releasing its second quarter earnings results and lowering its full year EPS guidance to between $3.65 - $3.70 from $3.85 - $4.00, reflecting the sale of its Water Transport business.
The mining company reported profits of $1.04 per share, 1 cent ahead of analysts expectations.
Revenue for the quarter fell 2.7% from the previous year to $1.91 billion, short of analysts $1.93 billion estimates.
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TheStreet Ratings team rates PENTAIR PLC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:"We rate PENTAIR PLC (PNR) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
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