PHINIA (NYSE:PHIN) Shares Gap Down on Disappointing Earnings

PHINIA Inc. (NYSE:PHIN - Get Free Report) shares gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $44.01, but opened at $39.49. PHINIA shares last traded at $41.40, with a volume of 47,516 shares traded.

The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.10). The business had revenue of $796.00 million for the quarter, compared to the consensus estimate of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. PHINIA's revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.27 dividend. This is an increase from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 2.71%. PHINIA's dividend payout ratio is presently 61.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Northland Capmk raised shares of PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. CL King initiated coverage on shares of PHINIA in a research note on Monday, March 24th. They issued a "buy" rating and a $54.00 target price on the stock. BNP Paribas cut shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective for the company. in a report on Wednesday, April 23rd. UBS Group reissued a "neutral" rating and issued a $45.00 target price (down from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Finally, Northland Securities initiated coverage on shares of PHINIA in a report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in PHINIA by 28.3% during the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after buying an additional 535,222 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of PHINIA by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock worth $98,653,000 after purchasing an additional 253,345 shares during the last quarter. First Trust Advisors LP boosted its position in PHINIA by 32.6% during the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after purchasing an additional 458,650 shares in the last quarter. Voss Capital LP raised its holdings in PHINIA by 31.8% in the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock worth $68,261,000 after purchasing an additional 342,081 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of PHINIA by 8.5% during the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock valued at $68,120,000 after buying an additional 110,931 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

PHINIA Stock Down 2.6 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. The firm has a market capitalization of $1.59 billion, a P/E ratio of 22.81 and a beta of 1.56. The business's fifty day moving average price is $43.01 and its two-hundred day moving average price is $47.65.

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.