PHINIA Inc. Announces Quarterly Dividend of $0.25 (NYSE:PHIN)

PHINIA Inc. (NYSE:PHIN) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Stockholders of record on Monday, November 25th will be given a dividend of 0.25 per share on Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Monday, November 25th.

PHINIA has a dividend payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect PHINIA to earn $4.00 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.0%.

PHINIA Price Performance

Shares of PHIN stock opened at $52.37 on Friday. The stock has a 50 day moving average price of $47.08 and a 200 day moving average price of $44.72. The firm has a market capitalization of $2.20 billion, a P/E ratio of 22.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. PHINIA has a 52-week low of $25.10 and a 52-week high of $53.72.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.38. The firm had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, sell-side analysts predict that PHINIA will post 3.27 earnings per share for the current year.

Insider Activity at PHINIA

In related news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total transaction of $42,939.00. Following the sale, the vice president now owns 29,540 shares of the company’s stock, valued at $1,409,353.40. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PHIN shares. UBS Group started coverage on PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price for the company. Morgan Stanley lowered shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note on Wednesday, September 25th.

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.