PHINIA (NYSE:PHIN) Posts Quarterly Earnings Results, Beats Estimates 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 the consensus estimate of $0.74 by $0.34, Briefing.com reports. The business had revenue of $863.00 million for the quarter, compared to the consensus estimate of $800.00 million. PHINIA had a net margin of 3.06% and a return on equity of 7.52%. The firm’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 opened at $38.85 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.25 and a current ratio of 1.71. The firm has a 50 day simple moving average of $36.56 and a 200 day simple moving average of $30.94. PHINIA has a 52 week low of $23.46 and a 52 week high of $40.12.

PHINIA Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Morgan Stanley began coverage on shares of 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.