Phillips Edison & Company, Inc. (NASDAQ:PECO) Issues FY 2024 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.480-0.500 for the period, compared to the consensus earnings per share estimate of 0.450. The company issued revenue guidance of -. Phillips Edison & Company, Inc. also updated its FY 2025 guidance to 0.540-0.590 EPS.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock opened at $38.10 on Friday. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 82.83, a PEG ratio of 3.60 and a beta of 0.57. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $40.12. The company’s 50-day simple moving average is $38.46 and its 200-day simple moving average is $36.20.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. During the same period in the prior year, the business earned $0.58 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, research analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.1025 per share. This is a positive change from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date of this dividend is Monday, December 16th. This represents a yield of 3.13%. Phillips Edison & Company, Inc.’s payout ratio is presently 267.39%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PECO. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Compass Point lifted their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Wednesday, November 13th. Finally, Mizuho raised their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.