Phillips Edison & Company, Inc. (NASDAQ:PECO) Releases FY24 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.40-2.44 for the period, compared to the consensus estimate of $2.40. Phillips Edison & Company, Inc. also updated its FY25 guidance to $2.52-2.59 EPS.

Phillips Edison & Company, Inc. Stock Performance

PECO stock opened at $38.21 on Thursday. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 83.07, a PEG ratio of 3.60 and a beta of 0.57. The stock’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 released its quarterly earnings data 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 return on equity of 2.22% and a net margin of 9.03%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared 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 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%.

Analysts Set New Price Targets

Several analysts recently commented on PECO shares. Wells Fargo & Company upgraded 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 report on Wednesday, August 28th. Mizuho increased their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Compass Point lifted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. has an average rating of “Moderate Buy” and an average price target of $39.00.

About Phillips Edison & Company, Inc.

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.