Phillips Edison & Company, Inc. (NASDAQ:PECO) Issues FY 2024 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.480-0.500 for the period, compared to the consensus estimate of 0.450. The company issued revenue guidance of -. Phillips Edison & Company, Inc. also updated its FY 2025 guidance to 0.540-0.590 EPS.

Analyst Upgrades and Downgrades

PECO has been the subject of a number of recent research reports. Mizuho boosted their target price on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Compass Point boosted their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Finally, Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO traded up $0.04 during mid-day trading on Thursday, hitting $38.25. The company had a trading volume of 103,063 shares, compared to its average volume of 668,429. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12. The firm has a market cap of $4.69 billion, a P/E ratio of 83.15, a P/E/G ratio of 3.60 and a beta of 0.57. The business’s fifty day moving average is $38.39 and its two-hundred day moving average is $36.15.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). The firm had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. Equities analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.1025 per share. This represents a dividend yield of 3.13%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.