PHINIA (NYSE:PHIN) Releases Quarterly Earnings Results, Beats Expectations 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. The firm had revenue of $863.00 million for the quarter, compared to analyst estimates of $800.00 million. The firm’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 stock traded up $0.63 during midday trading on Friday, reaching $38.95. The company’s 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 company has a debt-to-equity ratio of 0.38, a current ratio of 1.68 and a quick ratio of 1.25. The business’s 50-day simple moving average is $36.43 and its 200-day simple moving average is $30.89.

PHINIA Dividend Announcement

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

Analyst Upgrades and Downgrades

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

About PHINIA

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.