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

PHINIA (NYSE:PHIN) announced its quarterly earnings data on Thursday. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.34, Briefing.com reports. The company had revenue of $863.00 million for the quarter, compared to analysts’ expectations of $800.00 million. PHINIA’s revenue was up 3.4% on a year-over-year basis. PHINIA updated its FY 2024 guidance to EPS.

PHINIA Stock Performance

Shares of NYSE:PHIN traded up $0.61 during midday trading on Friday, hitting $38.93. 166,831 shares of the company’s stock traded hands, compared to its average volume of 650,115. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.25 and a current ratio of 1.68. The firm’s fifty day moving average price is $36.43 and its two-hundred day moving average price is $30.89. PHINIA has a twelve month low of $23.46 and a twelve month high of $40.12.

PHINIA Dividend Announcement

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 dividend of $0.25 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.57%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley initiated coverage on shares of PHINIA in a research note on Monday, March 11th. They set an “overweight” rating and a $50.00 price objective 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.