Phillips Edison & Company, Inc. (NASDAQ:PECO) Updates FY 2024 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.480-0.500 for the period, compared to the consensus earnings per share estimate of 0.450. The company issued revenue guidance of -. Phillips Edison & Company, Inc. also updated its FY 2025 guidance to 0.540-0.590 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a report on Wednesday, November 13th. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Mizuho boosted their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Finally, Compass Point increased their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Phillips Edison & Company, Inc. Trading Down 1.7 %

NASDAQ:PECO opened at $37.55 on Friday. The company has a market cap of $4.60 billion, a PE ratio of 81.63, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57. The company has a 50 day simple moving average of $38.42 and a two-hundred day simple moving average of $36.16. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). The firm had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. Research analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a $0.1025 dividend. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date of this dividend is Monday, December 16th. This represents a dividend yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 267.39%.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.