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

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

PHINIA Stock Up 1.4 %

NYSE PHIN traded up $0.53 on Friday, hitting $38.85. 436,239 shares of the company's stock were exchanged, compared to its average volume of 653,621. 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 50-day moving average price is $36.56 and its two-hundred day moving average price is $30.94. PHINIA has a fifty-two week low of $23.46 and a fifty-two week high of $40.12.

PHINIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley started coverage on PHINIA in a research report on Monday, March 11th. They issued an "overweight" rating and a $50.00 price target 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.