PHINIA Inc. (PHIN) to Issue Quarterly Dividend of $0.25 on December 13th

PHINIA Inc. (NYSE:PHIN) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Shareholders 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 yield of 1.91%. The ex-dividend date of this dividend is Monday, November 25th.

PHINIA has a payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

NYSE PHIN opened at $52.37 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. PHINIA has a twelve month low of $25.10 and a twelve month high of $53.72. The business 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 cap of $2.20 billion, a price-to-earnings ratio of 22.48 and a beta of 0.86.

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

Insider Transactions at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the sale, the vice president now directly owns 29,540 shares of the company’s stock, valued at $1,409,353.40. This trade represents a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Morgan Stanley downgraded shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a report on Wednesday, September 25th. UBS Group started coverage on PHINIA in a research report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price 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.