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

PHINIA Inc. (NYSE:PHIN) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Shareholders of record on Monday, November 25th will be paid a dividend of 0.25 per share on Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 1.92%.

PHINIA has a payout ratio of 21.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PHINIA to earn $4.19 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 23.9%.

PHINIA Trading Down 0.4 %

PHIN traded down $0.19 during midday trading on Thursday, reaching $52.10. 309,355 shares of the company’s stock traded hands, compared to its average volume of 643,868. The firm has a fifty day moving average of $46.96 and a two-hundred day moving average of $44.64. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 22.36 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. PHINIA has a 52 week low of $25.10 and a 52 week high of $53.72.

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

Analysts Set New Price Targets

PHIN has been the topic of several recent research reports. Morgan Stanley downgraded PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a research note on Wednesday, September 25th. UBS Group initiated coverage on PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target on the stock.

Insider Buying and Selling

In other PHINIA news, VP Michael Coetzee sold 900 shares of the stock in a transaction 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 owns 29,540 shares in the company, valued at approximately $1,409,353.40. This represents a 2.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is owned by insiders.

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.