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

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

PHINIA Stock Down 1.5 %

NYSE:PHIN traded down $0.68 on Friday, hitting $45.90. 525,547 shares of the company’s stock were exchanged, compared to its average volume of 653,763. The company has a market cap of $2.00 billion, a P/E ratio of 19.70 and a beta of 0.85. The firm has a 50-day moving average price of $46.43 and a 200-day moving average price of $43.84. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38. PHINIA has a 52 week low of $23.46 and a 52 week high of $52.19.

Insider Activity

In related news, VP Michael Coetzee sold 900 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total transaction 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 approximately $1,409,353.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PHIN has been the topic of a number of research reports. Morgan Stanley lowered 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 initiated coverage on PHINIA in a research report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target for the company.

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.