PHINIA (NYSE:PHIN) Posts Quarterly Earnings Results, Beats Expectations By $0.38 EPS

PHINIA (NYSE:PHIN) issued its earnings results on Thursday. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.38, Briefing.com reports. PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $829.82 million. During the same quarter last year, the company earned $0.53 EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. PHINIA updated its FY 2024 guidance to EPS.

PHINIA Price Performance

Shares of NYSE PHIN traded down $0.68 during midday trading on Friday, reaching $45.90. 525,547 shares of the stock traded hands, compared to its average volume of 653,763. The company’s 50 day moving average is $46.43 and its 200 day moving average is $43.84. PHINIA has a one year low of $23.46 and a one year high of $52.19. The stock has a market capitalization of $2.00 billion, a PE ratio of 19.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38.

Insider Activity at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the transaction, the vice president now directly owns 29,540 shares of the company’s stock, valued at $1,409,353.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of PHINIA in a research report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price objective on the stock. Morgan Stanley downgraded shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a report 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.