PHINIA (NYSE:PHIN) Posts Earnings Results, Beats Estimates By $0.34 EPS

PHINIA (NYSE:PHIN) announced its quarterly earnings data on Thursday. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.34, Briefing.com reports. The firm had revenue of $863.00 million during the quarter, compared to analyst estimates 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 %

Shares of NYSE PHIN traded up $0.53 on Friday, hitting $38.85. The company’s stock had a trading volume of 350,467 shares, compared to its average volume of 651,576. The stock has a 50 day moving average of $36.43 and a 200-day moving average of $30.89. PHINIA has a 12-month low of $23.46 and a 12-month high of $40.12. The company has a quick ratio of 1.25, a current ratio of 1.68 and a debt-to-equity ratio of 0.38.

PHINIA Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Morgan Stanley assumed coverage on PHINIA in a research report on Monday, March 11th. They issued an “overweight” rating and a $50.00 price objective for the company.

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.