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

PHINIA (NYSE:PHIN) released its earnings results on Thursday. The company reported $1.08 earnings per share for the quarter, topping 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 the consensus estimate of $800.00 million. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. PHINIA updated its FY 2024 guidance to EPS.

PHINIA Price Performance

PHIN stock traded up $0.63 during trading on Friday, reaching $38.95. The stock had a trading volume of 244,489 shares, compared to its average volume of 651,095. PHINIA has a 52 week low of $23.46 and a 52 week high of $40.12. The stock’s 50 day moving average is $36.43 and its two-hundred day moving average is $30.89. 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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Friday, February 23rd.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley initiated coverage on PHINIA in a research note on Monday, March 11th. They set 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.