According to Zacks, “Pool Corp.’s third-quarter 2016 earnings of $1.03 per share surpassed the Zacks Consensus Estimate of $0.99 by 4% and increased 14% year over year. The improvement was largely a result of increased revenues. Net sales of $691.4 million in the quarter marginally missed the estimates but surged 7.1% year over year. The upside was mainly driven by 5% growth in base business sales. Moreover, market share gains and stronger consumer discretionary spending further bolstered the results. Additionally, the company raised its earnings guidance for 2016. This is the third time that the company has raised its earnings outlook for 2016. The company should continue to gain in the near term from base business sales growth and favorable trends in the housing market. However, seasonality of the company’s business along with macroeconomic headwinds raises concern.”
Separately, Wedbush reaffirmed an outperform rating and set a $109.00 price target on shares of Pool Corp. in a research report on Friday, October 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Pool Corp. has an average rating of Buy and an average price target of $96.80.
Shares of Pool Corp. (NASDAQ:POOL) opened at 100.84 on Monday. The company has a 50 day moving average price of $94.17 and a 200-day moving average price of $94.74. The firm has a market cap of $4.17 billion, a PE ratio of 29.31 and a beta of 0.90. Pool Corp. has a 12-month low of $72.40 and a 12-month high of $102.86.
Pool Corp. (NASDAQ:POOL) last issued its quarterly earnings results on Thursday, October 20th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $1.01 by $0.02. Pool Corp. had a net margin of 5.86% and a return on equity of 58.92%. The business had revenue of $691.40 million for the quarter, compared to analysts’ expectations of $693.02 million. During the same quarter last year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts expect that Pool Corp. will post $3.45 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 9th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, November 7th. This represents a $1.24 dividend on an annualized basis and a yield of 1.23%. Pool Corp.’s dividend payout ratio is currently 35.94%.
A number of institutional investors have recently modified their holdings of POOL. Price T Rowe Associates Inc. MD boosted its position in shares of Pool Corp. by 12.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,608,080 shares of the company’s stock worth $151,996,000 after buying an additional 181,577 shares in the last quarter. LPL Financial LLC acquired a new stake in Pool Corp. during the third quarter worth $202,000. Ameritas Investment Partners Inc. boosted its stake in Pool Corp. by 90.5% in the third quarter. Ameritas Investment Partners Inc. now owns 12,671 shares of the company’s stock worth $1,198,000 after buying an additional 6,019 shares during the period. Jane Street Group LLC boosted its stake in Pool Corp. by 19.5% in the third quarter. Jane Street Group LLC now owns 12,557 shares of the company’s stock worth $1,186,000 after buying an additional 2,047 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in Pool Corp. by 7.7% in the third quarter. Panagora Asset Management Inc. now owns 33,819 shares of the company’s stock worth $3,197,000 after buying an additional 2,410 shares during the period. 94.10% of the stock is currently owned by hedge funds and other institutional investors.
About Pool Corp.
Pool Corporation is a distributor of swimming pool supplies, equipment and related leisure products. The Company is also a distributor of irrigation and landscape products in the United States. The Company operates over 340 sales centers in North America, Europe, South America and Australia through its over four distribution networks, such as SCP Distributors (SCP), Superior Pool Products (Superior), Horizon Distributors (Horizon) and National Pool Tile (NPT).
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