PHINIA Inc. (NYSE:PHIN) Declares Dividend Increase – $0.27 Per Share

PHINIA Inc. (NYSE:PHIN) declared a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.27 per share on Friday, March 14th. This represents a $1.08 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, February 28th. This is a positive change from PHINIA’s previous quarterly dividend of $0.25.

PHINIA has a dividend payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect PHINIA to earn $4.45 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 22.5%.

PHINIA Stock Performance

NYSE PHIN opened at $51.86 on Friday. PHINIA has a 1-year low of $31.08 and a 1-year high of $57.23. The company has a 50 day moving average of $49.81 and a 200-day moving average of $48.48. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 22.26 and a beta of 1.35.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a net margin of 3.10% and a return on equity of 9.79%. On average, equities analysts forecast that PHINIA will post 3.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. UBS Group raised their price objective on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Northland Securities initiated coverage on shares of PHINIA in a report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price target for the company. Finally, Northland Capmk raised PHINIA to a “strong-buy” rating in a report on Thursday, January 30th.

About PHINIA

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.