PHINIA (NYSE:PHIN) Releases Earnings Results, Beats Estimates By $0.38 EPS

PHINIA (NYSE:PHIN) announced its quarterly earnings data on Thursday. The company reported $1.17 earnings per share (EPS) for the quarter, topping 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 business had revenue of $839.00 million during the quarter, compared to analyst estimates of $829.82 million. During the same period last year, the company earned $0.53 earnings per share. PHINIA’s quarterly revenue was down 6.4% compared to the same quarter last year. PHINIA updated its FY 2024 guidance to EPS.

PHINIA Stock Performance

Shares of PHIN stock traded down $0.68 during trading on Friday, reaching $45.90. The company had a trading volume of 525,547 shares, compared to its average volume of 653,763. The company 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. The firm’s 50 day simple moving average is $46.43 and its two-hundred day simple moving average is $43.84. PHINIA has a one year low of $23.46 and a one year high of $52.19.

Insider Buying and Selling at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the sale, the vice president now directly owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley lowered PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a report on Wednesday, September 25th. UBS Group assumed coverage on shares of PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price for the company.

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.