COVINGTON, La. - Pool (NASDAQ:POOL) Corporation (NASDAQ:POOL), the world's largest wholesale distributor of swimming pool and related backyard products, has declared a quarterly cash dividend of $1.20 per share, as announced by the company today. This dividend is set to be distributed on November 27, 2024, to shareholders who are on record as of November 13, 2024.
The company, which operates around 447 sales centers across North America, Europe, and Australia, offers a vast array of products, with more than 200,000 items available to approximately 125,000 wholesale customers. The dividend announcement reflects the company's ongoing commitment to providing returns to its shareholders.
Pool Corporation's extensive network and product range have positioned it as a significant player in the swimming pool supply industry. While the press release provides contact information for investor relations, this article focuses on the key facts surrounding the dividend declaration.
The announcement of the dividend is a piece of essential financial information for current and potential investors, indicating the company's performance and its board's confidence in the financial stability and profitability of the company.
This news is based on a press release statement from Pool Corporation and does not include any promotional content or subjective assessment of the company's market position or future prospects. It remains a straightforward report of the declared dividend, relevant dates, and the company's operational scope.
In other recent news, Pool Corp 's third-quarter financial results revealed an adjusted earnings per share (EPS) of $3.27, surpassing analyst estimates, despite a 7% decrease year-over-year. The company's revenue for the quarter was $1.433 billion, exceeding estimates despite a 3% decrease from the same period last year. Oppenheimer has revised Pool Corp's price target to $386, maintaining an Outperform rating, following these results. Similarly, Loop Capital adjusted its price target for Pool Corp to $395, while BofA Securities raised its price target to $335, both firms highlighting the company's resilience in the face of economic challenges. Despite a slowdown in new pool construction, Pool Corp experienced growth in maintenance-related sales. The company confirmed its full-year 2024 EPS guidance range of $11.06 to $11.46. These recent developments reflect the broader economic challenges impacting consumer spending and construction activity, with several firms suggesting potential for earnings recovery.
InvestingPro Insights
Pool Corporation's recent dividend declaration aligns with its strong track record of shareholder returns. According to InvestingPro data, the company boasts a dividend yield of 1.32% and has impressively raised its dividend for 13 consecutive years. This consistency in dividend growth, coupled with a 9.09% dividend growth rate over the last twelve months, underscores Pool Corporation's commitment to rewarding its investors.
The company's financial health appears robust, with InvestingPro Tips highlighting that POOL's liquid assets exceed short-term obligations, and it operates with a moderate level of debt. This financial stability supports the company's ability to maintain its dividend payments, which it has done for 21 consecutive years.
Despite facing some headwinds, as evidenced by a 5.47% revenue decline in the last twelve months, Pool Corporation maintains a solid market position with a market capitalization of $13.94 billion. The company's profitability remains strong, with a gross profit of $1.58 billion and an operating income margin of 11.95% over the same period.
Investors should note that POOL is trading at a relatively high P/E ratio of 31.07, which may indicate market confidence in its future growth prospects. However, this also suggests that the stock may be priced at a premium compared to its earnings.
For those interested in a deeper dive into Pool Corporation's financials and future outlook, InvestingPro offers 11 additional tips, providing a more comprehensive analysis for potential investors.
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