Phillips Edison & Company, Inc. (NASDAQ:PECO) Issues FY24 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.40-2.44 for the period, compared to the consensus EPS estimate of $2.40. Phillips Edison & Company, Inc. also updated its FY25 guidance to $2.52-2.59 EPS.

Phillips Edison & Company, Inc. Price Performance

Shares of PECO stock opened at $38.21 on Thursday. The company’s fifty day moving average price is $38.39 and its two-hundred day moving average price is $36.15. The firm has a market capitalization of $4.68 billion, a P/E ratio of 83.07, a P/E/G ratio of 3.60 and a beta of 0.57. 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 announced its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). The business had revenue of $165.50 million for the quarter, compared to analysts’ expectations of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. On average, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a $0.1025 dividend. This represents a dividend yield of 3.13%. This is a positive change from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date of this dividend is Monday, December 16th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.39%.

Analysts Set New Price Targets

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

Phillips Edison & Company, Inc. Company Profile

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.