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

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

PHINIA Stock Performance

PHIN opened at $38.85 on Friday. The company has a fifty day moving average price of $36.70 and a two-hundred day moving average price of $31.02. The company has a quick ratio of 1.25, a current ratio of 1.71 and a debt-to-equity ratio of 0.38. PHINIA has a 52 week low of $23.46 and a 52 week high of $40.12.

PHINIA Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Morgan Stanley initiated coverage on shares of 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.