PHINIA (NYSE:PHIN) Releases Earnings Results, Beats Expectations By $0.34 EPS

PHINIA (NYSE:PHIN) posted its earnings results on Thursday. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.34, Briefing.com reports. PHINIA had a return on equity of 7.52% and a net margin of 3.06%. The company had revenue of $863.00 million during the quarter, compared to the consensus estimate of $800.00 million. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. PHINIA updated its FY 2024 guidance to EPS.

PHINIA Trading Up 1.4 %

NYSE PHIN opened at $38.85 on Friday. PHINIA has a 52 week low of $23.46 and a 52 week high of $40.12. The business has a 50 day moving average price of $36.56 and a 200-day moving average price of $30.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.25 and a current ratio of 1.71.

PHINIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.57%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley initiated coverage on PHINIA in a research note on Monday, March 11th. They issued an “overweight” rating and a $50.00 price target on the stock.

PHINIA Company Profile

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments.