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

PHINIA (NYSE:PHIN) released 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 business had revenue of $863.00 million during the quarter, compared to analyst estimates of $800.00 million. The company’s revenue was up 3.4% compared to the same quarter last year. PHINIA updated its FY 2024 guidance to EPS.

PHINIA Price Performance

NYSE:PHIN traded up $0.61 during trading hours on Friday, hitting $38.93. The company’s stock had a trading volume of 166,831 shares, compared to its average volume of 650,115. The stock has a fifty day moving average of $36.43 and a 200-day moving average of $30.89. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.25 and a current ratio of 1.68. 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. Investors of record on Monday, February 26th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Friday, February 23rd.

Analyst Upgrades and Downgrades

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