PHINIA Inc. (NYSE:PHIN) to Issue Quarterly Dividend of $0.25

PHINIA Inc. (NYSE:PHIN) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Shareholders of record on Monday, November 25th will be paid a dividend of 0.25 per share on Friday, December 13th. This represents a $1.00 annualized dividend and a yield of 1.92%.

PHINIA has a payout ratio of 21.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PHINIA to earn $4.00 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.0%.

PHINIA Trading Down 0.4 %

Shares of PHINIA stock opened at $52.10 on Friday. PHINIA has a 1 year low of $25.10 and a 1 year high of $53.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. The company has a market capitalization of $2.19 billion, a P/E ratio of 22.36 and a beta of 0.86. The company’s fifty day moving average is $46.96 and its two-hundred day moving average is $44.64.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.38. The business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Analysts forecast that PHINIA will post 3.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Michael Coetzee sold 900 shares of the business’s stock in a transaction that occurred 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 owns 29,540 shares of the company’s stock, valued at $1,409,353.40. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on PHIN. UBS Group began coverage on shares of PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price objective for the company. Morgan Stanley cut shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note 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.